Luigi Amoroso : The Building of Economics Between Science and Ideology

This book outlines the rich and complex path of Luigi Amoroso, the main exponent of the Paretian School in Italy and probably the most important Italian mathematical economist during the interwar period. The author presents, in a systematic form, the evolution of Amoros's thinking and his main achievements. Despite his relevance, many aspects of Amoroso's thought are little known or misunderstood. This volume delves further to explore the Paretian tradition in which Amoroso enlisted, the conservative anti-democratic ideology that prompted his adhesion to fascism, his contribution to defining the main features of economic theory as formal science, and his various contributions to specific fields such as microeconomic theory, equilibrium dynamics, business cycles and non-competitive markets. It will be relevant to students and researchers interested in the history of economic thought. Mario Pomini is Professor of Economics at the School of Law, University of Padua Contents List of Figures 1 Introduction Bibliography 2 Luigi Amoroso’s Early Contributions 1 Biographical Notes 2 The Influence of Pantaleoni and Pareto 3 Early Mathematical and Statistical Contributions 4 Pure Economics as Mathematical Economics 5 The Corso Di Economia Pura of 1913 6 Conclusions References 3 The Birth of Modern Microeconomics: The Lezioni of 1921 1 The Lezioni of 1921 2 The Mathematical Theory of Consumer and Exchange 3 The Equilibrium of the Firm 4 The General Theory of Rent 5 The Theory of Oligopolistic Markets 6 Determining the Cost Function 7 Economic and the Maximum of Ophelimity 8 A New Methodological Perspective 9 The Methodological Problems Return: The Debate with the Mathematician Ugo Broggi 10 The Path that wasn’t Chosen: The Axiomatic Theory of the Consumer 11 Conclusions: What Image of Mathematics Is Used in the Economic Domain? References 4 The Ideological Turn: Amoroso as Corporatist Economist 1 Introduction 2 Historical Background 3 Italian Economists: The General Framework 4 Beyond Pure Economics: The 1925 Lectures on Applied Economics 5 The First Phase. Amoroso Supporter of the Fascist Regime 6 The Second Phase. Toward a Corporatist Economic Theory 7 Principii di economia corporativa 8 Some Other Paretians 9 Amoroso in the International Context of the 1930s 10 The Judicial Process 11 Conclusions References 5 Amoroso and the First Revolution of Imperfect Competition 1 Introduction 2 General Price Equation 3 A New Formulation of the Cournot Model 4 Perfect Competition and the Market Supply Curve 5 Price Formation in the Context of Industrial Concentration 6 The Dynamics of the Firm 7 Conclusions References 6 From Fisher to Keynes: A Mathematical Business Cycle Theory 1 Introduction 2 The Starting Point: The Economic Barometers 3 Amoroso’s First Model: 1932 4 The Lezioni sui Prezzi of 1932 and the Keynes of Treatise 5 Beyond Keynes and the Dynamics of Capitalism 6 The Vinci–Amoroso Model of 1934 7 Amoroso’s Final Model of 1935 8 A Mathematical Note 9 Concluding Remarks References 7 Toward a Theory of Dynamic General Equilibrium 1 Introduction 2 Young Amoroso’s First Attempt 3 The International Context of the 1920s: The Statistical Strand 4 The International Context of the 1920s: The Mathematical Strand 5 The Mathematical Path in the Paretian Tradition 6 Amoroso’s Intertemporal Consumer Choice Theory 7 The Production Side 8 The Energetic Interpretation of the Productive Process 9 Dominedò’s Criticism 10 The Principle of Energy Conservation in Economics: The Case of Hamiltonian Dynamics 11 From General Equilibrium Dynamics to Economic Growth References 8 Conclusions: Economics—A Science on Stilts 1 Introduction 2 Economics and Mathematics: The Birth of Microeconomics 3 Envy of Physics 4 Economics and Ideology 5 Amoroso and the Paretians: A Degenerative Research Program References Bibliography Index