SIPI
VIII-IX/1999
Rivista di Politica Economica

The Manifesto’s logic can be summarised in two basic points: the First is that unemployment is not a divine punishment, to be passively accepted, but should instead be fought and defeated; the second point concerns economists and above al1 politicians. It is time to end the contraposition between the old Keynesian thread of demand stimulation and that with classica1roots which is struc- turalist.

The rationale of the Manifesto’s logic is faultless: demand stim- ulation requires that supply be flexible and that it responds to the stimuli; otherwise, inflation will result; implementing flexibility without demand worsens the problem of unemployment. Hence, I believe we can only wholly agree with this perspective.

There are only two supplementary considerations to be made. These derive from the debate one hopes will commence in Europe and in Italy on the Manifesto and its logic….continua a leggere

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