YSI Pre-Conference @ STOREP 2021 “Law and Economics”

The Inequality and the Political Economy of Europe working groups are happy to announce the final program for the YSI Pre-conference@ STOREP 2021 ("Law and Economics: History, Institutions, Public Policies”). We invite you to join us at the pre-conference organized by the Young Scholars Initiative.

The Pre-conference will take place online on June 16. The Zoom link to join the Conference is https://bit.ly/2TXyCZn.

Find the final program below:

11:00
Opening and introduction

11:10 – 12:30
INET-YSI Young Scholars Session

Marco Ranaldi – Income Composition Inequality: Theory and Stylized Facts
José Bruno Fevereiro – Biased Technical Change and Functional Income Distribution
Davide Romaniello – Reconsidering the Phillips Curve in the Light of Hysteresis: an Alternative Approach to Explain ‘Missing Inflation’

14:30 – 16:30
Mini-course 1

Prof. Annalisa Rosselli (Tor Vergata University) – Mini-course on history of money and monetary theory

The course will evolve around three myths that have a long tradition in the history of economic thought: the myth of money as a spontaneous creation of the market, through a process of cost-minimization; the myth of the existence of commodity-money and of the Gold Standard as a self-regulating system of international payments; the myth of speculation as a stabilizing force on commodity and financial markets. It will be shown that these myths clash with historical evidence and are instead the creation of mainstream economics’ desire to remove from its field of investigation any consideration of institutions and power relations. The consequences of this removal have a serious impact on our understanding of the present and the design of monetary institutions.

17:00-19:00
Mini-course 2

Prof. William Lazonick (University of Massachusetts) – Social conditions of innovative enterprise and corporate financialization: The global pharmaceutical industry

With an empirical focus on the global pharmaceutical industry, the course presents the “social conditions of innovative enterprise” analytical framework for understanding the “value-creating firm.” It then turns to the social determinants of the relation between value-creation and value-extraction and the implications of this relation for employment stability, income equity, and productivity growth. We then consider the social conditions under which an imbalance between value-creation and value extraction can occur, with a corporate governance regime that supports predatory value extraction as a possible result. Empirically, the focus is on the rise of predatory value extraction as a prime characteristic of the US business system since the 1980s and the extent of its transmission to the rest of the world. Especially in the context of the COVID-19 pandemic, the tension between innovation and financialization in the pharmaceutical industry is a matter of life or death.

Contact: inequality@youngscholarsinitiative.org or stefano.dibucchianico@uniroma3.it
For further Info visit the Conference webpage here (http://www.storep.org/wp/en/18th-annual-storep-online-conference-17-18-june-2021/).