Mario Seccareccia
Biographic Data
| ID | 1402507 |
|---|---|
| NAME | Mario Seccareccia |
| GIVEN NAMES | Mario |
| FAMILY NAME | Seccareccia |
| SIGNATURE | SECCARECCIA M |
| AFFILIATIONS | University of Ottawa |
| ORCID | 0000-0003-2719-7061 |
| VERIFIED | Yes |
| TOTAL WORKS | 38 |
| TOTAL CITATIONS | 80 |
| AUTHOR COUNT | 37 |
| EDITOR COUNT | 1 |
| FIRST PUBLICATION YEAR | 1988 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 5 |
Post-Keynesianism in Canada
The article traces how Keynes’s original thought came to Canada beginning in the early 1930s, mostly by way of three Canadian students: Plumptre, Bryce and Tarshis. As post-Keynesian economic ideas began to take root very early in the post-WWII period at the University of Cambridge, it quickly also spread to Canada during the 1950s and 1960s both directly via Cambridge, through the writings of Asimakopulos at McGill University, and indirectly, vi…
Augusto Graziani and Claudio Napoleoni
Money and Production
Revisiting the Pasinetti Index
Where do the Pasinetti Rule and the Pasinetti Index Come from
The article describes the origins of the Pasinetti index and Pasinetti rule and links both notions to debates over concerns regarding which socio-economic income group in a modern capitalist economy was being hurt and which broad income class was benefiting from the high interest rate policy, especially during the Volcker era of the 1980s. These were statistical constructs as well as distinct normative concepts that resulted from a close reading …
Alain Parguez and His Contributions to Political Economy
The economics profession, like the rest of the world, suffered grievously during the pandemic
Government Deficit Spending and Inflation
This article briefly recounts this author’s personal experience with Alain Parguez and sketches some of his important contributions over four decades. It then tackles the contemporary policy controversy concerning net public spending and inflation, which is once again contentious in today’s inflationary environment. Alain Parguez’s viewpoint was diametrically opposed to the Hayekian position that deficit spending is inevitably inflationary; the l…
A Tribute to Alain Parguez 1940–2022
International audience
The Polanyi Moment, Decommodification of Labor and the Struggle for Full Employment
The purpose of this article is first to discuss how the so-called fictitious labor market has been analyzed historically, by studying the classical, Marxian, and Lewis dual sectors and then by pointing to the current distinction between formal and informal sectors with the consequences of the phenomenon of informality on measured unemployment. We consider the recent 21st Century experience during the Great Financial Crisis and the current COVID-1…
Global Financial Markets, Central Bank Policy, and the Struggle for Full Employment
In this introductory piece, the authors reminisce on the role played by the late Eugenia Correa in both Mexico and internationally in developing a counter-hegemonic economic thought that matured in her writings and that was sown in the thinking of a whole generation of students over the last three decades
What Have We Yet to Learn From the Covid-19 Crisis
It has been more than a year and a half since the world woke up to the COVID-19 reality/ies. There was considerable confusion at the beginning as to what this was, and how long it would last, even
Remembering Eugenia Correa and Her Vision for the Future
The purpose of this introductory piece is to offer readers an understanding of Eugenia Correa, who was one of Mexico’s foremost heterodox economists, and her important ideas. In the article, we describe our professional association with her for over 30 years and identify some common research agendas that were pursued over this long period. We also highlight some key elements of Eugenia Correa’s economic thought and why some of her ideas from the …
What Have We Learned from the Covid-19 Crisis? Domestic and International Dimensions and Policy Options for a Post-Coronavirus World
This introductory article describes how modern financialized capitalist economies of the 21st Century, which adopted the neoliberal creed over the last half-century, have been facing increasing vulnerabilities whose acceptance of this policy system has made them progressively susceptible to crises, of which the COVID-19 pandemic will not be the last. Government actions, especially on the fiscal side, have led to an unprecedented evolution of key …
In Memoriam
In Memoriam: Julio López Gallardo 1941–2020." International Journal of Political Economy, 49(2), p. 93
The Illusion of Inflation Targeting
Current discussions over the behavior of central banks show that more and more political leaders are demanding that the monetary authorities abandon a single-goal mandate of solely combating inflation. Many are considering a multi-goal commitment that would include not only concern with inflation, as had been the case before the global financial crisis. Central banks should also give due consideration to the problem of unemployment, income distri…
Income Distribution, Rentiers, and Their Role in a Capitalist Economy
The paper reviews some of the important developments since the financial crisis both on the issue of secular stagnation, as put forth by Lawrence Summers (2014a Summers, L.H. 2014a. “U.S. Economic Prospects: Secular Stagnation, Hysteresis, and the Zero Lower Bound.” Business Economics 49, no. 2: 65–73.[Crossref] , [Google Scholar]), and the rising share of profit as put forth by Thomas Piketty (2014 Piketty, T. 2014. Capital in the Twenty-First C…
Understanding the Eurozone and its Current Structural Crisis
Supra-National Money and the Euro Crisis
The paper seeks to examine some of the key features of Karl Polanyi’s ideas explaining the collapse of the pre-Great Depression unregulated market system by using his broad framework of analysis, as developed in The Great Transformation and published over 70 years ago, to explain the present Eurozone crisis. Emphasis is placed on the two key institutions of the pre-Depression era, namely haute finance and the gold standard, as well as his heterod…
Celso Furtado and Development Theory
Policy developments in the Latin American region over the past decade have brought to the forefront the question of the developmentalist state and have revived some aspects of the structuralist vie
Reciprocal Influences
The history of the Bank of Canada and the U.S. Federal Reserve System is intertwined not only because of geographical proximity but because of the reciprocal influence on the way they have evolved their structures to conduct monetary policy. While both find their origins in financial crises, the environment in which they were embedded in the early twentieth century was quite different. Before central banking, the U.S. banking structure was decent…
Understanding Financialization
(2013). Understanding Financialization: History, Theory, and Institutional Analysis. International Journal of Political Economy: Vol. 42, No. 4, pp. 3-4
The U.S. Federal Reserve System
(2013). The U.S. Federal Reserve System: A Retrospective. International Journal of Political Economy: Vol. 42, No. 3, pp. 3-4
Understanding Fiscal Policy and the New Fiscalism
Canada's record both before and during the financial crisis has been recognized by many in the media as one of great achievement that other countries should seek to learn from and emulate: a dozen years of public-sector budgetary surpluses followed by fiscal stimulus packages that spanned two years after the financial crisis, and the lowest budget deficits and debt-to-gross domestic product ratios of the G-7 countries. This paper looks carefully …
Critique of Current Neoliberalism from a Polanyian Perspective—Politics, Philosophy, and Economics
(2012). Critique of Current Neoliberalism from a Polanyian Perspective—Politics, Philosophy, and Economics. International Journal of Political Economy: Vol. 41, No. 4, pp. 3-4
Fiscal Policy at the Crossroads
Income Distribution, Rentiers, and Their Role in a Capitalist Economy
The paper reviews some of the important developments since the financial crisis both on the issue of secular stagnation, as put forth by Lawrence Summers (2014a Summers, L.H. 2014a. “U.S. Economic Prospects: Secular Stagnation, Hysteresis, and the Zero Lower Bound.” Business Economics 49, no. 2: 65–73.[Crossref] , [Google Scholar]), and the rising share of profit as put forth by Thomas Piketty (2014 Piketty, T. 2014. Capital in the Twenty-First C…
Keynesianism And Public Investment
With the successful rise of the so-called mixed economy during the early post-war period, bastard Keynesianism (to use Joan Robinson's familiar expression) ruled supreme. In contrast with present-day Chicago- style neoclassical policy nihilism, the former ideology made allowance for a positive, yet limited, scope for active government intervention in the market-place. Indeed, advocates of this hybrid Keynesianism both recognized and professed tha…
Supra-National Money and the Euro Crisis
The paper seeks to examine some of the key features of Karl Polanyi’s ideas explaining the collapse of the pre-Great Depression unregulated market system by using his broad framework of analysis, as developed in The Great Transformation and published over 70 years ago, to explain the present Eurozone crisis. Emphasis is placed on the two key institutions of the pre-Depression era, namely haute finance and the gold standard, as well as his heterod…
The Role of Public Investment as Principal Macroeconomic Tool to Promote Long-Term Growth
The "new consensus" in macroeconomics downplayed fiscal policy prior to the financial crisis. This view dramatically changed during and immediately following the crisis. However, this view has witnessed a reversal and returned to the pre-crisis policy perspective, especially since 2010. In this article, the modern "financial balances" view of fiscal policy is analyzed. While this modern framework of analysis, which is diametrically opposed to the…
The United States Financial Crisis and Its Nafta Linkages
This article explores how the structural arrangements under the North American Free Trade Agreement (NAFTA) have contributed to the unfolding of the financial crisis and to its international transmission. It reviews the developments over the last two decades in Canada and Mexico based on the model of export-led growth which has also been implemented in much of the rest of the world. In light of this, the authors argue that NAFTA needs redesigning…
Financial Restructuring
For most of the last 15 years, Canada’s federal governments have boasted of their fiscal rectitude in achieving balanced budgets. This came with a steep price, as progressive critics have shown: lower actual and potential public expenditures are linked to mounting social deficits in the form of hunger, poverty, inadequate housing, environmental degradation, and so on. In an illuminating analysis of the flows between the corporate sector, the hous…
The Bank of Canada and the Modern View of Central Banking
Many observers of the art of central banking would probably argue that the most significant change in the behavior of central banks over the past fifteen years has been the adoption of inflation targeting. Beginning in 1991, Canada was one of the first countries, after New Zealand, to adopt explicit inflation rate targets. While this may be of some interest to policy analysts, we wish to argue that the Bank of Canada has introduced many more inno…
Money, Taxes, Public Spending, and the State Within a Circuitist Perspective
As it been discussed elsewhere (Seccareccia 1993), it was Keynes who most clearly pointed out that what is fundamentally at the origin of the great divide in macroeconomic policy is economists' own competing conceptions of money. Most mainstream neoclassical economists view as a commodity of which its intrinsic worth its utility is guaranteed by its relative scarcity and whose role, in merely greasing the wheels of trade, ensures its long-run neu…
An alternative to labour-market orthodoxy
Following a tradition originally established by E. Applebaum and A.S. Eichner, this article attempts to sketch an outline of the post-Keynesian/institutionalist theory of the 'labour market' as well as to analyse the radical policy perspective that emerges from this approach. This heterodox analytical framework is then used to assess two well-known labour-market policy proposals that have been much discussed in recent years. ∗Associate Professor,…
The Illusion of Inflation Targeting
Current discussions over the behavior of central banks show that more and more political leaders are demanding that the monetary authorities abandon a single-goal mandate of solely combating inflation. Many are considering a multi-goal commitment that would include not only concern with inflation, as had been the case before the global financial crisis. Central banks should also give due consideration to the problem of unemployment, income distri…
Remembering Eugenia Correa and Her Vision for the Future
The purpose of this introductory piece is to offer readers an understanding of Eugenia Correa, who was one of Mexico’s foremost heterodox economists, and her important ideas. In the article, we describe our professional association with her for over 30 years and identify some common research agendas that were pursued over this long period. We also highlight some key elements of Eugenia Correa’s economic thought and why some of her ideas from the …
Reciprocal Influences
The history of the Bank of Canada and the U.S. Federal Reserve System is intertwined not only because of geographical proximity but because of the reciprocal influence on the way they have evolved their structures to conduct monetary policy. While both find their origins in financial crises, the environment in which they were embedded in the early twentieth century was quite different. Before central banking, the U.S. banking structure was decent…
Financing Development
A salient feature of the international monetary system is the existence of a hierarchy of currencies. Unlike the major industrialized countries where there exists an international market for their currencies and whose citizens are in a privileged position to be able to borrow internationally and accumulate debt that is denominated in their own national currencies, this is not the case for the vast majority of countries, especially in the developi…
Where do the Pasinetti Rule and the Pasinetti Index Come from
The article describes the origins of the Pasinetti index and Pasinetti rule and links both notions to debates over concerns regarding which socio-economic income group in a modern capitalist economy was being hurt and which broad income class was benefiting from the high interest rate policy, especially during the Volcker era of the 1980s. These were statistical constructs as well as distinct normative concepts that resulted from a close reading …
Alain Parguez and His Contributions to Political Economy
The economics profession, like the rest of the world, suffered grievously during the pandemic
Celso Furtado and Development Theory
Policy developments in the Latin American region over the past decade have brought to the forefront the question of the developmentalist state and have revived some aspects of the structuralist vie
Understanding Fiscal Policy and the New Fiscalism
Canada's record both before and during the financial crisis has been recognized by many in the media as one of great achievement that other countries should seek to learn from and emulate: a dozen years of public-sector budgetary surpluses followed by fiscal stimulus packages that spanned two years after the financial crisis, and the lowest budget deficits and debt-to-gross domestic product ratios of the G-7 countries. This paper looks carefully …
Critique of Current Neoliberalism from a Polanyian Perspective—Politics, Philosophy, and Economics
(2012). Critique of Current Neoliberalism from a Polanyian Perspective—Politics, Philosophy, and Economics. International Journal of Political Economy: Vol. 41, No. 4, pp. 3-4
Full Employment versus Income Maintenance
(1989). Full Employment versus Income Maintenance: Some Reflections on the Macroeconomic and Structural Implications of a Guaranteed Income Program for Canada. Studies in Political Economy: Vol. 28, No. 1, pp. 137-173
Note on Left-Wing Neo-Conservatism
In an attempt to counter the abuses and general consequences of Reaganomics, there has emerged during the last decade a specific form of supply-side radical economics (particularly in the United States), whose advocates seem to accept some of the basic precepts and results of conventional economic theory
Note on Left-Wing Neo-Conservatism
In an attempt to counter the abuses and general consequences of Reaganomics, there has emerged during the last decade a specific form of supply-side radical economics (particularly in the United States), whose advocates seem to accept some of the basic precepts and results of conventional economic theory
Full Employment versus Income Maintenance
(1989). Full Employment versus Income Maintenance: Some Reflections on the Macroeconomic and Structural Implications of a Guaranteed Income Program for Canada. Studies in Political Economy: Vol. 28, No. 1, pp. 137-173
An alternative to labour-market orthodoxy
Following a tradition originally established by E. Applebaum and A.S. Eichner, this article attempts to sketch an outline of the post-Keynesian/institutionalist theory of the 'labour market' as well as to analyse the radical policy perspective that emerges from this approach. This heterodox analytical framework is then used to assess two well-known labour-market policy proposals that have been much discussed in recent years. ∗Associate Professor,…
High unemployment in developed economies
(1995). High unemployment in developed economies. Review of Political Economy: Vol. 7, No. 2, pp. 125-132
Keynesianism And Public Investment
With the successful rise of the so-called mixed economy during the early post-war period, bastard Keynesianism (to use Joan Robinson's familiar expression) ruled supreme. In contrast with present-day Chicago- style neoclassical policy nihilism, the former ideology made allowance for a positive, yet limited, scope for active government intervention in the market-place. Indeed, advocates of this hybrid Keynesianism both recognized and professed tha…
Money, Taxes, Public Spending, and the State Within a Circuitist Perspective
As it been discussed elsewhere (Seccareccia 1993), it was Keynes who most clearly pointed out that what is fundamentally at the origin of the great divide in macroeconomic policy is economists' own competing conceptions of money. Most mainstream neoclassical economists view as a commodity of which its intrinsic worth its utility is guaranteed by its relative scarcity and whose role, in merely greasing the wheels of trade, ensures its long-run neu…
Forum
(2004). Forum: Dollarization is Dollarization a Desirable Alternative to the Monetary Status Quo? a Critical Evaluation of Competing Currency Arrangements for Canada. Studies in Political Economy: Vol. 71, Combined volume 71–72, pp. 91-108
The Bank of Canada and the Modern View of Central Banking
Many observers of the art of central banking would probably argue that the most significant change in the behavior of central banks over the past fifteen years has been the adoption of inflation targeting. Beginning in 1991, Canada was one of the first countries, after New Zealand, to adopt explicit inflation rate targets. While this may be of some interest to policy analysts, we wish to argue that the Bank of Canada has introduced many more inno…
Financial Restructuring
For most of the last 15 years, Canada’s federal governments have boasted of their fiscal rectitude in achieving balanced budgets. This came with a steep price, as progressive critics have shown: lower actual and potential public expenditures are linked to mounting social deficits in the form of hunger, poverty, inadequate housing, environmental degradation, and so on. In an illuminating analysis of the flows between the corporate sector, the hous…
The United States Financial Crisis and Its Nafta Linkages
This article explores how the structural arrangements under the North American Free Trade Agreement (NAFTA) have contributed to the unfolding of the financial crisis and to its international transmission. It reviews the developments over the last two decades in Canada and Mexico based on the model of export-led growth which has also been implemented in much of the rest of the world. In light of this, the authors argue that NAFTA needs redesigning…
Financing Development
A salient feature of the international monetary system is the existence of a hierarchy of currencies. Unlike the major industrialized countries where there exists an international market for their currencies and whose citizens are in a privileged position to be able to borrow internationally and accumulate debt that is denominated in their own national currencies, this is not the case for the vast majority of countries, especially in the developi…
The Role of Public Investment as Principal Macroeconomic Tool to Promote Long-Term Growth
The "new consensus" in macroeconomics downplayed fiscal policy prior to the financial crisis. This view dramatically changed during and immediately following the crisis. However, this view has witnessed a reversal and returned to the pre-crisis policy perspective, especially since 2010. In this article, the modern "financial balances" view of fiscal policy is analyzed. While this modern framework of analysis, which is diametrically opposed to the…
Perspectives on the Great Recession and Policy Alternatives to Combat Stagnation in the Industrialized World
Understanding Fiscal Policy and the New Fiscalism
Canada's record both before and during the financial crisis has been recognized by many in the media as one of great achievement that other countries should seek to learn from and emulate: a dozen years of public-sector budgetary surpluses followed by fiscal stimulus packages that spanned two years after the financial crisis, and the lowest budget deficits and debt-to-gross domestic product ratios of the G-7 countries. This paper looks carefully …
Critique of Current Neoliberalism from a Polanyian Perspective—Politics, Philosophy, and Economics
(2012). Critique of Current Neoliberalism from a Polanyian Perspective—Politics, Philosophy, and Economics. International Journal of Political Economy: Vol. 41, No. 4, pp. 3-4
Fiscal Policy at the Crossroads
Reciprocal Influences
The history of the Bank of Canada and the U.S. Federal Reserve System is intertwined not only because of geographical proximity but because of the reciprocal influence on the way they have evolved their structures to conduct monetary policy. While both find their origins in financial crises, the environment in which they were embedded in the early twentieth century was quite different. Before central banking, the U.S. banking structure was decent…
Understanding Financialization
(2013). Understanding Financialization: History, Theory, and Institutional Analysis. International Journal of Political Economy: Vol. 42, No. 4, pp. 3-4
The U.S. Federal Reserve System
(2013). The U.S. Federal Reserve System: A Retrospective. International Journal of Political Economy: Vol. 42, No. 3, pp. 3-4
Celso Furtado and Development Theory
Policy developments in the Latin American region over the past decade have brought to the forefront the question of the developmentalist state and have revived some aspects of the structuralist vie
Understanding the Eurozone and its Current Structural Crisis
Supra-National Money and the Euro Crisis
The paper seeks to examine some of the key features of Karl Polanyi’s ideas explaining the collapse of the pre-Great Depression unregulated market system by using his broad framework of analysis, as developed in The Great Transformation and published over 70 years ago, to explain the present Eurozone crisis. Emphasis is placed on the two key institutions of the pre-Depression era, namely haute finance and the gold standard, as well as his heterod…
Income Distribution, Rentiers, and Their Role in a Capitalist Economy
The paper reviews some of the important developments since the financial crisis both on the issue of secular stagnation, as put forth by Lawrence Summers (2014a Summers, L.H. 2014a. “U.S. Economic Prospects: Secular Stagnation, Hysteresis, and the Zero Lower Bound.” Business Economics 49, no. 2: 65–73.[Crossref] , [Google Scholar]), and the rising share of profit as put forth by Thomas Piketty (2014 Piketty, T. 2014. Capital in the Twenty-First C…
The Illusion of Inflation Targeting
Current discussions over the behavior of central banks show that more and more political leaders are demanding that the monetary authorities abandon a single-goal mandate of solely combating inflation. Many are considering a multi-goal commitment that would include not only concern with inflation, as had been the case before the global financial crisis. Central banks should also give due consideration to the problem of unemployment, income distri…
What Have We Learned from the Covid-19 Crisis? Domestic and International Dimensions and Policy Options for a Post-Coronavirus World
This introductory article describes how modern financialized capitalist economies of the 21st Century, which adopted the neoliberal creed over the last half-century, have been facing increasing vulnerabilities whose acceptance of this policy system has made them progressively susceptible to crises, of which the COVID-19 pandemic will not be the last. Government actions, especially on the fiscal side, have led to an unprecedented evolution of key …
Economics (36 works) · Economic Theory and Policy (24 works) · Political science (22 works) · Keynesian economics (20 works) · Law (15 works) · Law (15 works) · Macroeconomics (15 works) · Politics (14 works) · Political economy (11 works) · Neoclassical economics (10 works)