Aggregate Demand, Inequality and Instability

Piero Ferri, Professor Emeritus of Economics, University of Bergamo, Italy

• Contents: 1. Introduction PART I: Basic Concepts 2. Piketty’s Contribution 3. Measurement 4. Inequality and Aggregate Demand PART II: Endogenous Dynamics and Instability 5. Aggregate Demand, Growth and Instability 6. Wealth, Public Debt and Instability 7. Recursive Workhorses PART III: The Macro Inference of Inequality 8. Rent, Wealth and Bubbles 9. A Model with Heterogeneous Supply 10. Wealth and Capital Gains in Financial Markets PART IV: Inequality, Finance and Instability 11. Inequality and the Financial Instability Hypothesis 12. Instability in a Regime Switching Model PART V: Concluding Remarks 13. A Summary 14. The Challenges Index

'Piero Ferri is one of the most sophisticated economists with a firm grasp of the economic methodologies necessary to understand our complex and unstable economies, which he has studied for many years. He now adds to his modelling of Minsky processes, studies of income inequality that highlight and illuminate the key issues that bother us today. This book is essential reading for the professional economist.'