Micromega, 20 giugno 2022
La Francia si polarizza. Il grande sconfitto è Macron. Ma non si può ancora parlare di vittoria di Mélenchon. Per due motivi: lo spettro di Le Pen e i nodi da sciogliere del programma. Intervista all’economista Emiliano Brancaccio, che in passato ebbe un discusso confronto con l’attuale leader della sinistra francese.
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“[..] We could say, in a nutshell, that a tendency seems to emerge from divergence towards convergence in the structures of solvency and ownership control of national capitalisms. We would be tempted to affirm that divergence tends towards convergence, as if a sort of “law of one price” also operated on the structure of the centralization of capital and the relative conditions of solvency of the various nations [..] Whether and to what extent this international convergence in the concentration of economic power can have more general repercussions on the “resilience of liberal capitalism”, “its democratic institutions” and even peace between nations remains an open question [..]”
il manifesto, 2 giugno 2022
“[..] Quella di Visco è una vecchia fantasia degli economisti ortodossi che si basa sull’idea che le imprese scaricheranno tutto sui prezzi. È una tesi falsa, smentita dall’evidenza empirica [..]”
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Econopoly – IL SOLE 24 ORE, 1 giugno 2022
di Emiliano Brancaccio
“[..] Queste due propagande, pur contrapposte, risultano dunque uguali nel richiamarsi continuamente ai diritti, alla lealtà, all’ideologia, all’integrità delle nazioni, alla protezione dei popoli. Come se nelle stanze del potere si discutesse solo di tali nobili argomenti. Mai d’affari. [..]”
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Review of Political Economy, 2 March 2022
In Praise of ‘general laws’ of Capitalism: Notes from a Debate with Daron Acemoglu
by Emiliano Brancaccio and Fabiana De Cristofaro
This essay develops the topics of a debate between Daron Acemoglu and Emiliano Brancaccio hosted by the Feltrinelli Foundation in June 2021. Acemoglu argues that Marx’s and his epigon Piketty’s attempts to unveil ‘general laws of capitalism’ are doomed to failure as they neglect institutions’ heterogeneity and their dynamics. Acemoglu provides historical and empirical evidence in support of the idea that such ‘laws’ are denied by ‘counterfactuals’. In this paper, we criticize Acemoglu’s epistemological view by arguing that the dynamics of institutions could strengthen general ‘laws’ rather than defeat them. We also show that Acemoglu empirical results can be overturned: a revision of his tests shows that Piketty’s law and the Marxian law of capital centralization find support in the empirical analysis. It is therefore appropriate to continue the investigation about the relevance of these ‘laws’, also for their possible implications on the future of liberal-democratic capitalism.
