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Whose saving behavior really matters in the long run? The Pasinetti (irrelevance) theorem revisited


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  • Gilberto Tadeu Lima

    (Universidade de São Paulo)


This review paper is intended to outline some of the main qualitative theoretical issues involved in the debates on the results emerging from the Pasinetti (irrelevance) theorem, which is an important element of the post-Keynesian approach to growth and distribution. Firstly, it is briefly described the Cambridge (U.K.) vs Cambridge (U.K.) controversy following the publication of the original works by Kaldor and Pasinetti. It is then reviewed the subsequent Cambridge (U.S.) vs Cambridge (U.K.) exchange between Samuelson and Modigliani, on one side, and Pasinetti, Robinson, and Kaldor on the other side.

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Bibliographic Info

Article provided by Economics Department, Universidade Federal de Minas Gerais (Brazil) in its journal Nova Economia.

Volume (Year): 13 (2003)
Issue (Month): 2 (July-December)
Pages: 11-36

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Handle: RePEc:nov:artigo:v:13:y:2003:i:2:p:11-36

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Related research

Keywords: saving behavior; growth; distribution;

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