Riflessioni eretiche di un economista eterodosso su mobilità internazionale e funzione sociale del capitale

Translated title of the contribution: [Autom. eng. transl.] Heretical reflections by a heterodox economist on international mobility and the social function of capital

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

[Autom. eng. transl.] In international trade theory, it has always been assumed that it was convenient for each country to open up to international trade, even if the country was less efficient in producing all goods. David Ricardo, the first economist to support this result, had achieved it by assuming that capital did not move freely between nations. The removal of this hypothesis can significantly change the situation: it is not possible to exclude that, in certain cases, the capital of an absolutely less efficient country tends to move entirely towards the most efficient country, leaving the productive activity of the former to "desertify" country. The essay critically discusses the inadequacy of the dominant theory in predicting this type of phenomena and in grasping the social function of capital and the need to rethink various institutional choices regarding the international mobility of capital.
Translated title of the contribution[Autom. eng. transl.] Heretical reflections by a heterodox economist on international mobility and the social function of capital
Original languageItalian
Title of host publicationL’evoluzione del sistema valutario internazionale - Euro, dollaro, Yuan e valute digitali
Pages37-44
Number of pages8
VolumeAtti della sedicesima "Lezione Mario Arcelli"
Publication statusPublished - 2020

Keywords

  • capitale
  • competitività internazionaleS
  • mobilità dei capitali
  • vantaggi assoluti e comparati

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