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Post-Keynesian Essays from Down Under Volume IV: Essays on Theory pp 310–326Cite as

Palgrave Macmillan

Luigi Pasinetti and the Political Economy of Growth and Distribution

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Abstract

This paper, especially written especially for our volumes following a suggestion by G.C. Harcourt, arises from a set of notes I wrote in July 2014 for my long-time friend, Thomas Ferguson, Professor of Political Science at the University of Massachusetts in Boston and a leading member of the Institute of New Economic Thinking, who asked me to prepare a point by point briefing on Pasinetti’s work in the light of a meeting with him in Milan. In the present essay the sequence is kept as in the original notes with some important additions while the text has been changed into a more discursive style.

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Bibliographical References

References to Pasinetti’s works

  • Pasinetti, Luigi L. (1958) “Il recente modello di sviluppo di J. Robinson e la teoria neoclassica del capitale: alcune osservazioni”, Rivista Internazionale di Scienze Sociali, Vol. 66, pp. 429–444.

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  • Pasinetti, Luigi L. (1959) “On Concepts and Measures of Changes in Productivity”, The Review of Economics and Statistics, vol. 41, pp. 270–282 [Reprinted in Pasinetti 1974, chapter I].

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  • Pasinetti, Luigi L (1960) “A Mathematical Formulation of the Ricardian System”, The Review of Economic Studies, vol. 27, pp. 78–98.

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  • Pasinetti, Luigi L. (1960) “Cyclical Fluctuations and Economic Growth”, Oxford Economic Papers, New Series, Vol. 12, No. 2, pp. 215–241 [Reprinted in Pasinetti 1974, chapter III].

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  • Pasinetti, Luigi L. (1962) “Rate of Profit and Income Distribution in relation to the Rate of Economic Growth”, The Review of Economic Studies, vol. 29, 267–279 [Reprinted in Pasinetti 1974, chapter V].

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  • Pasinetti, Luigi L. (1965) “A New Theoretical Approach to the Problem of Economic Growth”, Vatican City: Pontificiae Academiae Scientiarum Scripta Varia, n. 28.

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  • Pasinetti, Luigi L. (1966) “Changes in the Rate of Profit and Switches of Techniques”, The Quarterly Journal of Economics, vol. 80, pp. 503–517.

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  • Pasinetti, Luigi L. (1969) “Switches of Techniques and ‘the Rate of Return’ in Capital Theory”, The Economic Journal, vol. 79, pp. 508–531.

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  • Pasinetti, Luigi L. (1974) Growth and Income Distribution — Essays in Economic Theory, Cambridge U.K.: Cambridge University Press.

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  • Pasinetti, Luigi L. (1974a) “From Classical to Keynesian economic dynamics”, in Pasinetti 1974, chapter IV, pp. 86–102.

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  • Pasinetti Luigi L. (1974b) “The rate of profit in an expanding economy”, in Pasinetti 1974, chapter VI, pp. 121–146.

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  • Pasinetti, Luigi L. (1974c) “The economics of effective demand”, in Pasinetti 1974, chapter II, pp. 29–53.

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  • Pasinetti, Luigi L. (1975) Lezioni di teoria della produzione, Bologna: Il Mulino.

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  • Pasinetti, Luigi L. (1977) Lectures on the Theory of Production, New York N.Y.: Columbia University Press.

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  • Pasinetti, Luigi L. (1981) Structural Change and Economic Growth, Cambridge U.K.: Cambridge University Press.

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  • Pasinetti, Luigi L (1987) “‘Satisfactory’ versus ‘Optimal’ Economic Growth”, Rivista internazionale di scienze economiche e commerciali, October, Vol. 34 (10), pp. 989–999.

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  • Pasinetti, Luigi L. (1988) “Growing subsystems, vertically hyper-integrated sectors and the labour theory of value”, Cambridge Journal of Economics, Vol. 12 (1), pp. 125–134.

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  • Pasinetti, Luigi L. (1993) Structural Economic Dynamics, Cambridge U.K.: Cambridge University Press.

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  • Pasinetti, Luigi L (1997) “The Social ‘Burden’ of High Interest Rates” in: P. Arestis, G. Palma, and M. Sawyer (eds.), Capital Controversy, Post-Keynesian Economics and the History of Economic Thought, Essays in Honour of Geoff Harcourt, volume I; London & N.Y: Routledge, pp. 161–168. 1997.

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  • Pasinetti, Luigi L (1998) “The myth (or folly) of the 3% deficit/GDP Maastricht ‘parameter’”, Cambridge Journal of Economics, Vol. 22 (1), pp. 103–116.

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  • Pasinetti, Luigi L (2002) “An «analytical» approach to the «just» rate of interest: the priority of labour over capital”, Rivista Internazionale di Scienze Sociali, Anno 110, No. 3 (Luglio–Settembre), pp. 323–329.

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  • Pasinetti, Luigi L. (2012) “A few counter-factual hypotheses on the current economic crisis”, Cambridge Journal of Economics, vol. 36 (6), pp. 1433–1453.

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Other References

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  • Felipe, Jesus and John S.L. McCombie (2013) The Aggregate Production Function and the Measurement of Technical Change: ‘Not Even Wrong’, Cheltenham: Edward Elgar.

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  • Kalecki, Michał (1971) Selected Essay of the Dynamics of the Capitalist Economy, 1933–1970, Cambridge: Cambridge University Press.

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  • Piketty, Thomas (2014) Capital in the Twenty-First Century, Cambridge, Massachusetts: The Belknap Press of Harvard University Press [originally published as Le capital au XXIe siècle, Paris: Seuil, 2013].

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  • Sen, Amartya (1960) Choice of Techniques: An Aspect of the Theory of Planned Economic Development, Oxford: Blackwell.

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  • Sraffa, Piero (1960) Production of Commodities by Means of Commodities, Cambridge: Cambridge University Press; and: Produzione di merci a mezzo di merci, Torino: Einaudi, 1960.

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  • Toporowski, Jan (2014a) “The crisis of finance and the crisis of accumulation: it was not a ‘Lehman Brothers Moment’”, unpublished paper, London: SOAS.

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  • Toporowski, Jan (2014b) “The discrete charme of the economic crisis. Interview to Jan Toporowski (part one)”, http://noirestiamo.noblogs.org/post/2014/11/06/the-discrete-charme-of-the-economic-crisis-interview-to-jan-toporowski-part-one/

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Authors
  1. Joseph Halevi
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© 2016 Joseph Halevi, G. C. Harcourt, Peter Kriesler and J. W. Nevile

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Halevi, J. (2016). Luigi Pasinetti and the Political Economy of Growth and Distribution. In: Post-Keynesian Essays from Down Under Volume IV: Essays on Theory. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-47529-9_23

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  • DOI: https://doi.org/10.1057/978-1-137-47529-9_23

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  • Publisher Name: Palgrave Macmillan, London

  • Print ISBN: 978-1-137-47528-2

  • Online ISBN: 978-1-137-47529-9

  • eBook Packages: Economics and FinanceEconomics and Finance (R0)

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