IL PROBLEMA DEL COSTO DEL LAVORO NELLA CRISI DEGLI ANNI SETTANTA: LA "CONTROVERSIA MODIGLIANI"

Translated title of the contribution: [Autom. eng. transl.] THE PROBLEM OF THE COST OF WORK IN THE CRISIS OF THE SEVENTIES: THE "MODIGLIANI CONTROVERSY"

Francesco Cattabrini

Research output: Contribution to journalArticle

Abstract

[Autom. eng. transl.] At the beginning of the seventies, international economic balances were upset by two main events: the breaking of the Bretton Woods agreements (1971) and the oil crisis (1973). This had serious repercussions on the Italian economy, already burdened by stagnating investments and high unemployment. It was in this context that, in 1975, came the agreement between the unions and Confindustria on the unification of the single point of contingency, an agreement that was the origin of a lively debate between Franco Modigliani, on the one hand, and some economists belonging to the area of the left, on the other. The aim of the present research is to reconstruct this debate, showing how even the most vocal critics of Modigliani (in particular Claudio Napoleoni and Augusto Graziani), although resorting to arguments that are not groundless, failed to be convincing, with the result that, in the end, it was Modigliani's proposals that prevailed.
Translated title of the contribution[Autom. eng. transl.] THE PROBLEM OF THE COST OF WORK IN THE CRISIS OF THE SEVENTIES: THE "MODIGLIANI CONTROVERSY"
Original languageItalian
Pages (from-to)15-31
Number of pages17
JournalIL PENSIERO ECONOMICO MODERNO
Publication statusPublished - 2011

Keywords

  • COSTO DEL LAVORO
  • Franco Modigliani

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