Abstract
Ciocca’s thesis is that in De Viti de Marco there is a clear, modern conception of a bank as an economic institution that can create bank money and thus expand its possibilities of extending credit.
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Notes
- 1.
J. A. Schumpeter (1954) History of Economic Analysis (London, Allen & Unwin).
- 2.
Agostino Depretis (1813–1887) was Prime Minister of Italy from March 1876 to March 1878, then from December 1878 to July 1879, and finally from May 1881 to July 1887.
- 3.
We recall that Crispi succeeded Depretis from July 1887 to February 1891; he was then again Prime Minister of Italy from December 1893 to March 1896.
- 4.
As already mentioned, Giolitti became Prime Minister of Italy in May 1892.
- 5.
By ‘two red years’ we refer to 1919–1920, in which workers and agricultural laborers were involved in social and political struggles in Italy.
- 6.
Ciocca argues this case in (2007) Ricchi Per Sempre? Una Storia Economica d’Italia (1796–2005) (Torino, Bollati Boringhieri).
- 7.
Transformismo was a parliamentary Italian method where reforms were passed thanks to the support of the opposition.
- 8.
A. de Viti de Marco (1930), Un Trentennio di Lotte Politiche (1894–1922) (Roma, Collezione meridionale).
- 9.
A. de Viti de Marco (1934) La Funzione della Banca 2nd edn (Torino, Einaudi).
- 10.
On this see also R. Realfonzo (1995), ‘La Teoria della Banca come Organo dei Pagamenti a Credito di De Viti de Marco’, Storia del Pensiero Economico, 30, 3–22, reprinted in A. Pedone (ed.) (1995), Antonio de Viti de Marco (Bari, Laterza), 161–181.
- 11.
J.A. Schumpeter (1883–1950) worked out a theory of economic development in which a fundamental role is played by the creation of banks’ purchasing power. J.A. Schumpeter (1911) Theorie der wirtschaftlichen Entwicklung (Leipzig, Duncker & Humblot); English translation (1934) The Theory of Economic Development (Cambridge, Mass., Harvard University Press).
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Ciocca, P. (2016). Economic Policy and Banks. In: Antonio de Viti de Marco. Palgrave Macmillan, New York. https://doi.org/10.1057/978-1-137-53493-4_7
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DOI: https://doi.org/10.1057/978-1-137-53493-4_7
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