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Antonella Rancan

Franco Modigliani and Keynesian Economics

Franco Modigliani and Keynesian Economics

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  • More about Franco Modigliani and Keynesian Economics

This book explores the intellectual journey of Nobel Prize-winning Keynesian economist Franco Modigliani, tracing his development and examining the impact of his research. It covers his early work in Italy, his introduction to Keynes' General Theory at the New School, and his pioneering theory of savings, the life-cycle hypothesis. It also discusses his connections with Keynesian theory and the social and political implications of his work.

Format: Paperback / softback
Length: 176 pages
Publication date: 01 February 2022
Publisher: Taylor & Francis Ltd



The Intellectual Journey of Franco Modigliani: A Noble Prize Winner and Influential Keynesian Economist


The book delves into the intellectual trajectory of Franco Modigliani, a Nobel Prize-winning economist widely regarded as one of the most influential Keynesian economists of the 20th century. It traces his development from his early years as a law student in 1930s Italy to his emigration to the United States, where he encountered Keynes' General Theory at the New School. This pivotal moment shaped his academic pursuits and laid the foundation for his groundbreaking contributions to economics.


The book explores Modigliani's pioneering theory of savings, the life-cycle hypothesis (co-authored with Richard Brumberg), and the Modigliani-Miller theorem, a fundamental principle in modern finance theory. It argues that while Modigliani is often considered a prominent Keynesian economist, his connections with Keynesian theory took on secondary importance until the beginning of the 1960s when he joined the Massachusetts Institute of Technology (MIT).


What sets this book apart is its historical context. It places Modigliani's thought within the broader framework of economic concerns and examines the social and political implications of his work. The book aims to provide a comprehensive understanding of Modigliani's contributions to economic thought, particularly in the post-war American Keynesian economics.


Scholars in the history of economic thought, as well as those interested in post-war American Keynesian economics, will find this book invaluable. It offers a deep exploration of Modigliani's intellectual journey, shedding light on his ideas and their enduring impact on the field of economics.

Weight: 292g
Dimension: 156 x 235 x 18 (mm)
ISBN-13: 9780367497019

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