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2018 | OriginalPaper | Buchkapitel

5. Pasinetti’s Main Research Lines. On Productivity Changes and on Ricardo

verfasst von : Mauro L. Baranzini, Amalia Mirante

Erschienen in: Luigi L. Pasinetti: An Intellectual Biography

Verlag: Springer International Publishing

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Abstract

Baranzini and Mirante maintain that by taking into account the whole of his activity, Pasinetti’s scientific contribution may be divided into nine, strongly inter-related, strands. They are on: (1) the measurement of technical progress; (2) Ricardo; (3) income distribution and profit determination; (4) capital theory; (5) structural economic dynamics and vertical integration; (6) pure labour theory of value; (7) natural versus institutional relations; (8) stylized facts and resource scarcity; (9) the roots of the recent financial crises and the Modigliani-Miller Theorem. In this chapter Baranzini and Mirante expound in detail the first ‘Two-Cambridges controversy’ on the measurement of productivity changes (which saw Pasinetti fiercely debating with Bob Solow back in 1959), and the seminal contribution by Pasinetti on ‘Ricardo and classical political economy’.

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Vorheriges Kapitel Back to the Catholic University of Milan (1976 Onwards)

Nächstes Kapitel Pasinetti on Post-Keynesian Income Distribution and Growth Theory: The Basic Issues

This is how Nicholas Kaldor did sketch Pasinetti’s scientific contribution in one of his letters of reference dated 1982:

The ‘Pasinetti Theorem’ concerning the independence of the rate of profits of the saving propensity of workers (in (2));

The refutation of the Samuelson-Levhari, non-switching theorem (in (4));

The formulation of the concept of vertically integrated (and ‘hyper-integrated’) sectors and their relation to Sraffa’s sub-systems (in (3));

The measurement of productivity changes (in (6));

A multi-sector model of economic growth with different rates of technical progress in different sectors (in (5));

Important new theorems concerning linear models of production (in (1)).

Kaldor gave the following references: (1) Lectures on the Theory of Production, Columbia University Press, New York, and Macmillan, London, 1977, pp. 285+xiv. (2) Growth and Income Distribution–Essays in Economic Theory, Cambridge University Press, Cambridge, 1974, pp. 151+x. (3) ‘The Notion of Vertical Integration in Economic Analysis’, in Metroeconomica, 1973, vol. xxv. (4) ‘Changes in the Rate of Profit and Switches of Technique’, in Quarterly Journal of Economics, November 1966, Vol. lxxx. (5) ‘A New Theoretical Approach to the Problems of Economic Growth’, in the Economic Approach to Development Planning, Pontifical Academy of Sciences, Scripta Varia No. 28, 1965. (6) ‘On Concepts and Measures of Changes in Productivity’, in The Review of Economics and Statistics, no. 3, August 1959.

See Sect. 2.4, Footnote 52.

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Titel: Pasinetti’s Main Research Lines. On Productivity Changes and on Ricardo
verfasst von: Mauro L. Baranzini
Amalia Mirante
Verlag: Springer International Publishing
Buch: Luigi L. Pasinetti: An Intellectual Biography
Print ISBN: 978-3-319-71071-6

Electronic ISBN: 978-3-319-71072-3

Copyright-Jahr: 2018
DOI: https://doi.org/10.1007/978-3-319-71072-3_5