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Daniele Tavani Profile picture
Daniele Tavani
@danieletavani
Immigrant•Dad•Husband•Professor @ColoradoStateU•@GrowthDist coauthor. Classical & Post-Keynesian #economics, with micro. @danieletavani@bsky.social
Apr 27, 2021 • 8 tweets • 3 min read
Joan Robinson was “probably the best economist alive” in Paul Samuelson’s own words.

@zachdcarter rightfully celebrated her work on monopolistic competition (without which there wouldn’t be new trade theory nor endogenous growth theory) & #monpsony.

Dismissing her work... ...on #capital theory is wrong-headed, because it has fundamental implications for the theory of #distribution.

She realized that there is no “quantity of capital” independent of prices in a world with heterogeneous capital goods.

The existence of...
Apr 25, 2021 • 7 tweets • 2 min read
*Bad take* alert here. Neoclassical growth theory rests fundamentally on the f'(k) = r profit-max condition. There is no real wage without this, since w = f(k)-f'(k)k because of constant returns to scale in production. If the former falls, theory of distribution is bust. 1/ Imo, the issue with Cambridge UK is not that they highlighted the issues with neoclassical growth & distribution (the muddle) but that they stopped there, w/o developing a coherent alternative on capital deepening, innovation, determinants of distribution, convergence, etc. 2/
May 18, 2020 • 26 tweets • 9 min read
As promised to @g_m_hodgson & @ingridharvold I got myself a copy of Hodgson’s book e-elgar.com/shop/gbp/is-th…. It’s hard 2 do justice in a thread to the many arguments he makes, but I’ll try to engage. 1/ Among other things, a) Hodgson correctly points out that lack of raison d’etre 4 hetecon may be responsible 4 its marginalization. I also agree that b) agreement on a “core” among hetecons would be desirable. He also notes c) general neglect of micro (I’ll return 2 this). 2/
Jun 5, 2019 • 14 tweets • 11 min read
John Maynard #Keynes was born on June 5, 1883, and died too early. Here's a few thoughts on why I keep circling back to him, & why his work forces 2 rethink the way we do & teach #economics, esp. #micro. I am sure this (partial) thread will upset someone: apologies in advance. 1/ #Keynes understood that #macroeconomics is about emergent properties: aggregate outcomes that don't make sense 2 the individuals populating the economy. The logic, e.g., of the #IncomeExpenditure model is that an economy can coordinate along any point on the 45-degree line.. 2/