Politiche di intervento nel sistema dei prezzi: Caffe' e il problema dell' inflazione

Massimiliano Badiali

No 142, Working Papers in Public Economics from Department of Economics and Law, Sapienza University of Roma

Abstract: The paper focuses on Federico Caffè’s outlook towards the problem of inflation. His attention forthe claims of full employment didn’t prevent him from considering rigorously the negative impactof inflation on the economic system. His analysis stresses the incidence of «administrated prices»and the distributive conflict arising from labour market on the process leading to the growth ofprices in contemporary society. The policies he suggested try to overcome the trade off betweeninflation and unemployment arose in twentieth century economies. Among the microeconomicpolicies, a public regulation of private prices is required as a constraint of the inflationarymovement of prices of monopolistic and oligopolistic industries. His criticism on incomes policiespracticed by European and American governments is connected with the distribution inequities theycontributed to set up; a fair acknowledgment of the political determinants of wages negotiationconstitutes a fundamental premise for an incomes policy able to get a satisfactory stability of priceslevel.

JEL-codes: B22 B31 (search for similar items in EconPapers)
Pages: 30
Date: 2011-04
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