Giacomo Gabbuti | Scuola Superiore Sant'Anna (original) (raw)
Call for Papers by Giacomo Gabbuti
Rivista di Storia Economica
Call for Papers for the Special Issue, Guest Editors: Brian A’Hearn (Pembroke College, University... more Call for Papers for the Special Issue, Guest Editors: Brian A’Hearn (Pembroke College, University of Oxford, United Kingdom) and Giacomo Gabbuti (St. Antony’s College, University of Oxford, United Kingdom).
Deadline for submissions: 30 September 2020 / Planned publication: 2021
Papers by Giacomo Gabbuti
The European Journal of the History of Economic Thought
Chronique Internationale de l'IRES
Documentos de Trabajo ( Universidad Pública de Navarra. Departamento de Economía ), 2021
Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra, 2021
Call for Papers for the Special Issue, Guest Editors: Brian A’Hearn (Pembroke College, University... more Call for Papers for the Special Issue, Guest Editors: Brian A’Hearn (Pembroke College, University of Oxford, United Kingdom) and Giacomo Gabbuti (St. Antony’s College, University of Oxford, United Kingdom). Deadline for submissions: 30 September 2020 / Planned publication: 2021
European Review of Economic History
This article develops theoretical and practical motivations for studying the functional distribut... more This article develops theoretical and practical motivations for studying the functional distribution of income in the past. Italy is adopted as a case study, because of the availability of long-run estimates on personal inequality and of the long-lasting incidence of self-employment. New labor shares for 1895–1970 show Italian workers accruing a low share of income until 1945; by the end of the 1950s, they rapidly converged to the European average. Italian history shows that functional income distribution deepens our understanding of long- and short-run distributional trends and makes a compelling case for approaching inequality by combining diverse sources and methodologies.
Journal of Modern Italian Studies
We argue against the use of composite indices, such as the Human Development Index, in economic h... more We argue against the use of composite indices, such as the Human Development Index, in economic history. We show that composite indices can be interpreted as paternalistic social welfare functions (PSWF), and therefore are nothing more than a formal representation of the analyst’s ethical system. This contrasts with the use economic historians typically make of composite indices, as tools to lend objectivity to the measurement of multidimensional phenomena. We support our claim by introducing a new constant-elasticity-of-substitution SWF family, which a) encompasses all composite indices put forth by the literature, and b) identifies the analyst’s implicit preferences by means of standard tools, e.g. marginal rates of substitution and elasticity of substitution parameters. The theoretical framework is illustrated by an empirical investigation of the long-run evolution of Italians’ living standards (1861-2017). We show how any history based on composite indices is one where both data...
Studi e saggi
In summer 1923, in the midst of the ‘fight’ to balance the budget, Minister Alberto De Stefani an... more In summer 1923, in the midst of the ‘fight’ to balance the budget, Minister Alberto De Stefani announced the abolition of inheritance tax, pursuant to the ‘full powers’ granted to the government by the Parliament. This abolition – possibly the most iconic act of the ‘financial restauration’ carried on by De Stefani – provoked surprise and interest in the country and abroad but was substantially overlooked by historians. This chapter – first outcome of a research in progress – offers a first historical reconstruction of this episode of early 1920s Italian economic history, by documenting both the positions of an influent advisor of De Stefani, the economist Maffeo Pantaleoni, and even more, the lobbying activity carried on by pressure groups such as the bankers’ association, an influential businessman linked to Mussolini such as Cesare Goldmann, and a young, very proactive association of notaries. Moreover, the chapter surveys the way in which both Italian and international media rep...
This paper develops theoretical and practical motivations for studying the functional distributio... more This paper develops theoretical and practical motivations for studying the functional distribution of income in the past. Italy is adopted as a case study, by reason of the availability of long-run estimates on personal income inequality. The historical importance of self-employment and the recent increase in labour’s share make the Italian historical experience of further general interest. New estimates from 1895 show Italian workers accruing a low share of national income until 1945. By the end of the 1950s and the economic miracle, shares had rapidly converged to the European average. Italian history shows that studying the functional distribution of income deepens our understanding of long run distributional trends, as well as of key distributive episodes, and makes a compelling case for approaching income inequality by combining diverse sources and methodologies.
This paper offers a critical survey of the recent quantitative economic history literature on the... more This paper offers a critical survey of the recent quantitative economic history literature on the evolution of the Italian economy under fascism. The new evidence on GDP and industrial output validates the rejection of classic interpretations of «fascism as stagnation», highlighting factors of continuity in the long-run process of industrialization and development. The evidence on wages, economic wellbeing and inequality (including some estimates of gender gaps), however, suggests a discontinuity with the «benevolence» of the liberal period, and the ineffectiveness of the fascist welfare state. New research is needed to further develop our understanding of the effects of specific policies.
History of Political Economy
The Italian contribution to the emergence of modern inequality measurement has been, so far, main... more The Italian contribution to the emergence of modern inequality measurement has been, so far, mainly discussed from a methodological standpoint, or has focused on Vilfredo Pareto’s theoretical contribution. This article offers a first survey of the Italian empirical literature on measuring inequality, from the earliest contributions in the 1890s to the end of the interwar decades, discussing the motivations and the sociopolitical milieu in which this literature developed.
European Review of Economic History
This article develops theoretical and practical motivations for studying the functional distribut... more This article develops theoretical and practical motivations for studying the functional distribution of income in the past. Italy is adopted as a case study, because of the availability of long-run estimates on personal inequality and of the long-lasting incidence of self-employment. New labor shares for 1895–1970 show Italian workers accruing a low share of income until 1945; by the end of the 1950s, they rapidly converged to the European average. Italian history shows that functional income distribution deepens our understanding of long- and short-run distributional trends and makes a compelling case for approaching inequality by combining diverse sources and methodologies.
History of Political Economy, 2020
The Italian contribution to the emergence of modern inequality measurement has been, so far, main... more The Italian contribution to the emergence of modern inequality measurement has been, so far, mainly discussed from a methodological standpoint, or has focused on Vilfredo Pareto’s theoretical contribution. This article offers a first survey of the Italian empirical literature on measuring inequality, from the earliest contributions in the 1890s to the end of the interwar decades, discussing the motivations and the sociopolitical milieu in which this literature developed.
Il pensiero economico italiano, 2019
Sommario · A cavallo tra la storia della statistica e la storia del pensiero economico, il fondam... more Sommario · A cavallo tra la storia della statistica e la storia del pensiero economico, il fondamentale contributo italiano alla misurazione delle disuguaglianze è stato sinora perlopiù discusso nei suoi aspetti metodologici (come lo sviluppo dell’indice di Gini) e teorici (la celebre legge di Pareto). Nell’ambito di un recente interesse storiografico per l’emergere di interesse sulla disuguaglianza, il presente lavoro offre una prima panoramica dello studio empirico delle disuguaglianze economiche in Italia negli anni a cavallo tra i due conflitti mondiali. Il lavoro si propone di analizzare l’evoluzione della conoscenza della disuguaglianza in Italia, anche alla luce dei risultati recentemente ottenuti dagli storici economici, e discuterne le implicazioni e motivazioni sul dibattito teorico e di politica economica degli anni tra la prima e la seconda guerra mondiale.
Abstract · The «Other Half» of Economic Science: the Measurement of Economic Inequality in Italy between the Two Wars ∙ The fundamental contribution by Italian scholars to inequality measurement has been so far discussed mainly with a focus on methodological standpoint, such as the development of the Gini index, or focusing on Pareto’s theoretical contribution. Given the renewed historiographic interest in the emergence of inequality measurement, this paper offers a first survey of the Italian empirical literature on measuring inequality, focusing on the period between the two World Wars. The paper traces the evolution of empirical knowledge on economic inequality in Italy, comparing it with the modern estimates by economic historians, and discusses the motivations of this research, as well as their implications for the theoretical and policy debate in the period.
Oxford Economic and Social History Working Papers, 2020
A century after Mussolini’s seizure of power, distributive trends during Interwar Italy are only ... more A century after Mussolini’s seizure of power, distributive trends during Interwar Italy are only partially known. This paper presents new evidence on inequality, contributing to the ‘classic’ debate on Fascism’s origins and legacy. Labour shares fell dramatically during the Great War, quickly recovered by 1922, and experienced a steady decline during Fascism, reaching a secular minimum in early 1940s. A newly assembled database of fiscal tabulations shows increasing concentration at the top between 1925 and 1936. These findings testify the fundamentally regressive nature of the Fascist regime, revealing significant discontinuity in Italy’s long-run inequality trend.
HHB Working Paper Series, 2018
This paper develops theoretical and practical motivations for studying the functional distributio... more This paper develops theoretical and practical motivations for studying the functional distribution of income in the past. Italy is adopted as a case study, by reason of the availability of long-run estimates on personal income inequality. The historical importance of self-employment and the recent increase in labour’s share make the Italian historical experience of further general interest. New estimates from 1895 show Italian workers accruing a low share of national income until 1945. By the end of the 1950s and the economic miracle, shares had rapidly converged to the European average. Italian history shows that studying the functional distribution of income deepens our understanding of long run distributional trends, as well as of key distributive episodes, and makes a compelling case for approaching income inequality by combining diverse sources and methodologies.
Rivista di Storia Economica
Call for Papers for the Special Issue, Guest Editors: Brian A’Hearn (Pembroke College, University... more Call for Papers for the Special Issue, Guest Editors: Brian A’Hearn (Pembroke College, University of Oxford, United Kingdom) and Giacomo Gabbuti (St. Antony’s College, University of Oxford, United Kingdom).
Deadline for submissions: 30 September 2020 / Planned publication: 2021
The European Journal of the History of Economic Thought
Chronique Internationale de l'IRES
Documentos de Trabajo ( Universidad Pública de Navarra. Departamento de Economía ), 2021
Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra, 2021
Call for Papers for the Special Issue, Guest Editors: Brian A’Hearn (Pembroke College, University... more Call for Papers for the Special Issue, Guest Editors: Brian A’Hearn (Pembroke College, University of Oxford, United Kingdom) and Giacomo Gabbuti (St. Antony’s College, University of Oxford, United Kingdom). Deadline for submissions: 30 September 2020 / Planned publication: 2021
European Review of Economic History
This article develops theoretical and practical motivations for studying the functional distribut... more This article develops theoretical and practical motivations for studying the functional distribution of income in the past. Italy is adopted as a case study, because of the availability of long-run estimates on personal inequality and of the long-lasting incidence of self-employment. New labor shares for 1895–1970 show Italian workers accruing a low share of income until 1945; by the end of the 1950s, they rapidly converged to the European average. Italian history shows that functional income distribution deepens our understanding of long- and short-run distributional trends and makes a compelling case for approaching inequality by combining diverse sources and methodologies.
Journal of Modern Italian Studies
We argue against the use of composite indices, such as the Human Development Index, in economic h... more We argue against the use of composite indices, such as the Human Development Index, in economic history. We show that composite indices can be interpreted as paternalistic social welfare functions (PSWF), and therefore are nothing more than a formal representation of the analyst’s ethical system. This contrasts with the use economic historians typically make of composite indices, as tools to lend objectivity to the measurement of multidimensional phenomena. We support our claim by introducing a new constant-elasticity-of-substitution SWF family, which a) encompasses all composite indices put forth by the literature, and b) identifies the analyst’s implicit preferences by means of standard tools, e.g. marginal rates of substitution and elasticity of substitution parameters. The theoretical framework is illustrated by an empirical investigation of the long-run evolution of Italians’ living standards (1861-2017). We show how any history based on composite indices is one where both data...
Studi e saggi
In summer 1923, in the midst of the ‘fight’ to balance the budget, Minister Alberto De Stefani an... more In summer 1923, in the midst of the ‘fight’ to balance the budget, Minister Alberto De Stefani announced the abolition of inheritance tax, pursuant to the ‘full powers’ granted to the government by the Parliament. This abolition – possibly the most iconic act of the ‘financial restauration’ carried on by De Stefani – provoked surprise and interest in the country and abroad but was substantially overlooked by historians. This chapter – first outcome of a research in progress – offers a first historical reconstruction of this episode of early 1920s Italian economic history, by documenting both the positions of an influent advisor of De Stefani, the economist Maffeo Pantaleoni, and even more, the lobbying activity carried on by pressure groups such as the bankers’ association, an influential businessman linked to Mussolini such as Cesare Goldmann, and a young, very proactive association of notaries. Moreover, the chapter surveys the way in which both Italian and international media rep...
This paper develops theoretical and practical motivations for studying the functional distributio... more This paper develops theoretical and practical motivations for studying the functional distribution of income in the past. Italy is adopted as a case study, by reason of the availability of long-run estimates on personal income inequality. The historical importance of self-employment and the recent increase in labour’s share make the Italian historical experience of further general interest. New estimates from 1895 show Italian workers accruing a low share of national income until 1945. By the end of the 1950s and the economic miracle, shares had rapidly converged to the European average. Italian history shows that studying the functional distribution of income deepens our understanding of long run distributional trends, as well as of key distributive episodes, and makes a compelling case for approaching income inequality by combining diverse sources and methodologies.
This paper offers a critical survey of the recent quantitative economic history literature on the... more This paper offers a critical survey of the recent quantitative economic history literature on the evolution of the Italian economy under fascism. The new evidence on GDP and industrial output validates the rejection of classic interpretations of «fascism as stagnation», highlighting factors of continuity in the long-run process of industrialization and development. The evidence on wages, economic wellbeing and inequality (including some estimates of gender gaps), however, suggests a discontinuity with the «benevolence» of the liberal period, and the ineffectiveness of the fascist welfare state. New research is needed to further develop our understanding of the effects of specific policies.
History of Political Economy
The Italian contribution to the emergence of modern inequality measurement has been, so far, main... more The Italian contribution to the emergence of modern inequality measurement has been, so far, mainly discussed from a methodological standpoint, or has focused on Vilfredo Pareto’s theoretical contribution. This article offers a first survey of the Italian empirical literature on measuring inequality, from the earliest contributions in the 1890s to the end of the interwar decades, discussing the motivations and the sociopolitical milieu in which this literature developed.
European Review of Economic History
This article develops theoretical and practical motivations for studying the functional distribut... more This article develops theoretical and practical motivations for studying the functional distribution of income in the past. Italy is adopted as a case study, because of the availability of long-run estimates on personal inequality and of the long-lasting incidence of self-employment. New labor shares for 1895–1970 show Italian workers accruing a low share of income until 1945; by the end of the 1950s, they rapidly converged to the European average. Italian history shows that functional income distribution deepens our understanding of long- and short-run distributional trends and makes a compelling case for approaching inequality by combining diverse sources and methodologies.
History of Political Economy, 2020
The Italian contribution to the emergence of modern inequality measurement has been, so far, main... more The Italian contribution to the emergence of modern inequality measurement has been, so far, mainly discussed from a methodological standpoint, or has focused on Vilfredo Pareto’s theoretical contribution. This article offers a first survey of the Italian empirical literature on measuring inequality, from the earliest contributions in the 1890s to the end of the interwar decades, discussing the motivations and the sociopolitical milieu in which this literature developed.
Il pensiero economico italiano, 2019
Sommario · A cavallo tra la storia della statistica e la storia del pensiero economico, il fondam... more Sommario · A cavallo tra la storia della statistica e la storia del pensiero economico, il fondamentale contributo italiano alla misurazione delle disuguaglianze è stato sinora perlopiù discusso nei suoi aspetti metodologici (come lo sviluppo dell’indice di Gini) e teorici (la celebre legge di Pareto). Nell’ambito di un recente interesse storiografico per l’emergere di interesse sulla disuguaglianza, il presente lavoro offre una prima panoramica dello studio empirico delle disuguaglianze economiche in Italia negli anni a cavallo tra i due conflitti mondiali. Il lavoro si propone di analizzare l’evoluzione della conoscenza della disuguaglianza in Italia, anche alla luce dei risultati recentemente ottenuti dagli storici economici, e discuterne le implicazioni e motivazioni sul dibattito teorico e di politica economica degli anni tra la prima e la seconda guerra mondiale.
Abstract · The «Other Half» of Economic Science: the Measurement of Economic Inequality in Italy between the Two Wars ∙ The fundamental contribution by Italian scholars to inequality measurement has been so far discussed mainly with a focus on methodological standpoint, such as the development of the Gini index, or focusing on Pareto’s theoretical contribution. Given the renewed historiographic interest in the emergence of inequality measurement, this paper offers a first survey of the Italian empirical literature on measuring inequality, focusing on the period between the two World Wars. The paper traces the evolution of empirical knowledge on economic inequality in Italy, comparing it with the modern estimates by economic historians, and discusses the motivations of this research, as well as their implications for the theoretical and policy debate in the period.
Oxford Economic and Social History Working Papers, 2020
A century after Mussolini’s seizure of power, distributive trends during Interwar Italy are only ... more A century after Mussolini’s seizure of power, distributive trends during Interwar Italy are only partially known. This paper presents new evidence on inequality, contributing to the ‘classic’ debate on Fascism’s origins and legacy. Labour shares fell dramatically during the Great War, quickly recovered by 1922, and experienced a steady decline during Fascism, reaching a secular minimum in early 1940s. A newly assembled database of fiscal tabulations shows increasing concentration at the top between 1925 and 1936. These findings testify the fundamentally regressive nature of the Fascist regime, revealing significant discontinuity in Italy’s long-run inequality trend.
HHB Working Paper Series, 2018
This paper develops theoretical and practical motivations for studying the functional distributio... more This paper develops theoretical and practical motivations for studying the functional distribution of income in the past. Italy is adopted as a case study, by reason of the availability of long-run estimates on personal income inequality. The historical importance of self-employment and the recent increase in labour’s share make the Italian historical experience of further general interest. New estimates from 1895 show Italian workers accruing a low share of national income until 1945. By the end of the 1950s and the economic miracle, shares had rapidly converged to the European average. Italian history shows that studying the functional distribution of income deepens our understanding of long run distributional trends, as well as of key distributive episodes, and makes a compelling case for approaching income inequality by combining diverse sources and methodologies.
HHB Working Paper Series, 2018
We argue against the use of composite indices, such as the Human Development Index, in economic h... more We argue against the use of composite indices, such as the Human Development Index,
in economic history. We show that composite indices can be interpreted as paternalistic
social welfare functions (PSWF), and therefore are nothing more than a formal
representation of the analyst’s ethical system. This contrasts with the use economic
historians typically make of composite indices, as tools to lend objectivity to the
measurement of multidimensional phenomena. We support our claim by introducing a
new constant-elasticity-of-substitution SWF family, which a) encompasses all
composite indices put forth by the literature, and b) identifies the analyst’s implicit
preferences by means of standard tools, e.g. marginal rates of substitution and elasticity
of substitution parameters. The theoretical framework is illustrated by an empirical
investigation of the long-run evolution of Italians’ living standards (1861-2017). We
show how any history based on composite indices is one where both data and history
play a minor role, if any.
Il convegno, che si inserisce nell'ambito delle celebrazioni per l'anniversario della fondazione ... more Il convegno, che si inserisce nell'ambito delle celebrazioni per l'anniversario della fondazione dell'Istat, affronta il tema dell'evoluzione della società italiana nell'arco dei novant'anni della storia dell'Istituto. L'evento, organizzato in due giornate presso la Sapienza Università di Roma, ripercorre i cambiamenti sociali ed economici che si sono succeduti in Italia, nel corso del tempo, per effetto delle grandi crisi che hanno investito il Paese.
