Background
Pasinetti, Luigi Lodovico was born on September 12, 1930 in Bergamo, Italy. Son of Giovanni Angelo and Romilde (Arzuffi) Pasinetti.
(This 1974 collection of six essays in economic theory rep...)
This 1974 collection of six essays in economic theory represents a major contribution to the field. The first contains the formulation of the Ricardian system, whilst the next two contain, respectively, the author's synthetic treatment of the complex problems of fluctuations and economic growth, and his well-known theorem that in the long run the rate of profit and income distribution are independent of the propensities to save of the working class. The essays that follow provide the missing links: a coherent picture of the macroeconomic theories that have originated in Cambridge and a discussion of their deep foundations in classical economic analysis. Finally, the author evaluates some economic controversies and draws his conclusions on the basic forces determining rate of profit in the process of economic growth. Although the arguments are highly theoretical, they require no knowledge of mathematics beyond elementary calculus and algebra.
http://www.amazon.com/gp/product/0521295432/?tag=2022091-20
(First published in 1981 this book presents an original th...)
First published in 1981 this book presents an original theoretical treatment of the problems of maintaining full employment in a multisector economic system with a growing population and different rates of technical progress in different sectors. The conditions for full employment and full capacity utilisation are examined when prices are stable and when there is inflation. This approach is carried out, not in terms of input-output relations, as has become customary in multisector models, but rather in terms of vertically integrated sectors. This makes it possible to analyse the economic growth process in terms of the structural dynamics of production, of prices and of employment. Remarkable implications are drawn for a surprisingly large number of theoretical problems, which have been under discussion since Adam Smith: from price theory to the theory of rates of profit and the rates of interest; from production theory to the theories of fluctuating growth, ever-changing composition of output, choice of technique and international trade.
http://www.amazon.com/gp/product/0521274109/?tag=2022091-20
(In this theoretical investigation of the development thro...)
In this theoretical investigation of the development through time of a pure labor economy, the author shifts the theory of long-term economic development away from the traditional framework based on capital accumulation to new foundations based on learning and technical progress. He gives a detailed analysis of the structural dynamics of prices and production, and the necessary mobility of employment. Institutional and social learning, know-how, and the diffusion of information emerge as the decisive factors accounting for the success and failure of industrial societies.
http://www.amazon.com/gp/product/0521432820/?tag=2022091-20
(First published in 1981 this book presents an original th...)
First published in 1981 this book presents an original theoretical treatment of the problems of maintaining full employment in a multisector economic system with a growing population and different rates of technical progress in different sectors. The conditions for full employment and full capacity utilisation are examined when prices are stable and when there is inflation. This approach is carried out, not in terms of input-output relations, as has become customary in multisector models, but rather in terms of vertically integrated sectors. This makes it possible to analyse the economic growth process in terms of the structural dynamics of production, of prices and of employment. Remarkable implications are drawn for a surprisingly large number of theoretical problems, which have been under discussion since Adam Smith: from price theory to the theory of rates of profit and the rates of interest; from production theory to the theories of fluctuating growth, ever-changing composition of output, choice of technique and international trade.
http://www.amazon.com/gp/product/0521274109/?tag=2022091-20
(What was the Keynesian revolution in economics? Why did i...)
What was the Keynesian revolution in economics? Why did it not succeed to the extent that Keynes and his close pupils had hoped for? Keynes and the Cambridge Keynesians addresses these and other questions by tracing the historical development of Keynesian economics. The book is split into three parts. Part I contains the author's Caffè Lectures on Keynes's 'unaccomplished revolution'. Part II is a series of biographical essays where the author, himself a witness and participant of the group on which he writes, presents the successful and unsuccessful endeavours of Keynes's most important pupils: Richard Kahn, Joan Robinson, Nicholas Kaldor, Pierro Sraffa and Richard Goodwin. Part III of the book looks to the future by developing a conceptual analytical framework that makes sense of Keynes's 'revolution in economics', discussing the many ways in which the Keynesian way of doing economics is incompatible with the neoclassical tradition.
http://www.amazon.com/gp/product/0521107725/?tag=2022091-20
(Keynes and the Cambridge Keynesians: A 'Revolution in Eco...)
Keynes and the Cambridge Keynesians: A 'Revolution in Economics' to be Accomp...
http://www.amazon.com/gp/product/B00ME3IUOE/?tag=2022091-20
Pasinetti, Luigi Lodovico was born on September 12, 1930 in Bergamo, Italy. Son of Giovanni Angelo and Romilde (Arzuffi) Pasinetti.
1st degree in Economics, University Cattolica, 1954. Postgraduate, Harvard University, 1957—1958. Doctor of Philosophy in Economics, Cambridge University, 1962.
Research fellow Nuffield College, Oxford University, England, 1960—1961. Fellow King's College, Cambridge, England, 1961—1976. Lecturer, then reader economics Cambridge University, 1961—1976.
Chairman economics faculty Catholic University of Sacred Heart, Milan, 1976—1983, professor economic analysis, 1980—2003. Honorary professor economics University Fribourg, Switzerland, since 1986. Professor emeritus, 2004.
President Society Italiana Economics, Rome, 1986-1989, confederation European Economics Associations, 1992-1993. Wesley Clair Mitchell visiting research professor economics Columbia University, New York City, 1971, 75. Visiting professor Indian Statistics Institute, Calcutta and New Delhi, 1979, Carleton University and Ottawa University, Ontario Canada, 1981, Kyoto (Japan) University, 1984, University Southern California, Los Angeles, 1985, Gonville and Caius College, Cambridge, England, 1989, University Sydney, Australia, 1993.
Distinguished fellow WIDER, United Nations University, Helsinki, 1991-1992.
(In this theoretical investigation of the development thro...)
(The problems connected with long-term economic developmen...)
(What was the Keynesian revolution in economics? Why did i...)
(First published in 1981 this book presents an original th...)
(First published in 1981 this book presents an original th...)
(This 1974 collection of six essays in economic theory rep...)
(Keynes and the Cambridge Keynesians: A 'Revolution in Eco...)
Author: Growth and Income Distribution, 1974, Lectures on the Theory of Production, 1977, Structural Change and Economic Growth, 1981, Structural Economic Dynamics, 1993. (with R.M. Solow) Economic Growth and the Structure of Development, 1994. (with B. Schefold) The Impact of Keynes in the 20th Century, 1999, Keynes and the Cambridge Keynesians, 2007.
I began by giving a mathematical formulation of Ricardo’s theoretical system, following the interpretation emerging from Piero Sraffa’s edition of Ricardo’s works. My name was then associated with two major economic debates of the 1960s: (1) the post-Keynesian claim that the rate of profit and the distribution of income depend on the saving propensities of capitalists and are independent of the saving propensities of workers known as the ‘Pasinetti theorem’). And 2) the capital theory debate originating from Samuelson-Levhari’s challenge to Sraffa’s analysis of the reswitching of techniques (I was the first to disprove the Samuelson-Levhari’s nonswitching theorem).
These contributions have placed me among the critics of traditional marginal economics.
On the more positive side, I have pursued a wide investigation into the fundamental dynamics of industrial societies. Along the lines that were adopted after Keynes by Harrod, Domar, Joan Robinson and Kaldor, I went on to enquire into such movements of the economic systems through time that are characterised by nonproportional growth and structural change due to the unevenness from sector to sector of productivity changes and the hierarchical structure of consumers’ needs (‘Engel’s Law’). This
work led me to call for the elaboration of new analytical tools (such as vertically integrated sector analysis, as opposed to input-output analysis) and also for changes in the methodology of economics itself, especially with reference to a separation of basic relations typical of industrial societies as such (whether capitalist or socialist) from relations specific to particular institutions.
From this analysis many empirical regularities and a number of theoretical contributions, that had earlier been difficult to absorb into marginal theory, seem to find a more natural and satisfactory theoretical explanation.
Fellow Econometric Society. Member International Economic Association (council, executive committee 1980-1989, 92-99, honorary president since 2005), European Society History Economic Thought (president 1995-1997, honorary president since 2002), Academy dei Lincei Rome (correspondent 1986-1993), European Association for Evolutionary Political Economy (honorary president since 1989).
Married Carmela Colombo, December 7, 1966. 1 child, Giovanni.