Introduction

This volume originates from the conference held in memory of Giovanni Caravale at the University of Rome ‘La Sapienza’ on 4-5 June 1998, one year after his untimely death. For the occasion we invited eminent scholars, who had shared some of Caravale’s scientific interests, to present papers on the themes that had characterised his research activity and that we thought could be arranged under the following five headings: Economic theory and its history; The classical school and the Ricardo debate; Models of prices and allocations in equilibrium and out of equilibrium; The legacy of Keynes; Economic theorising and institutions. The contributions included in this collection have, thus, been grouped into five parts which we have prefaced with significant passages from Caravale’s own writings. The final part also includes the full text of Caravale’s 1996 paper on the problem of economic theory and institutions. This paper, together with a contribution by Luigi Pasinetti (also reproduced in the volume), was the springboard for the round table discussion which, coordinated by Pasinetti himself, concluded the memorial conference.