Pantaleoni and Pareto on Labour Issues

This essay provides a parallel review of Maffeo Pantaleoni's and Vilfredo Pareto's thoughts on labour issues. Despite noteworthy differences in their theoretical angles on labour, both Pantaleoni and Pareto had faith in the self-regulating function of labour markets. Pantaleoni's and Pareto's adherence to this neoclassicism-backed liberal creed in contradiction to the nature of capitalistic labour caused vicissitudes of their attitudes towards industrial relations. With changes in Italy's industrial relations, Pantaleoni and Pareto shifted from being sympathetic to antagonistic towards labour movements. They finally inclined to Fascism in the expectation that the Fascists could restore market-directed Italian capitalism by ruthlessly crushing workers' power. Thus, this essay illuminates strong affinities between Pantaleoni's and Pareto's thoughts on labour issues. [Publisher's text]