Luigi Pasinetti and Philosophy: Economic Science and Moral Knowledge

Building on Keynes, Pasinetti develops a dynamic economic theory grounded in normative goals such as full employment, universal access to goods, and distributive justice. His approach recognizes the importance of institutions that go beyond market self-regulation, seeking creative ways to balance efficiency with solidarity. Influenced by a personalist philosophy, Pasinetti argues that labor should not be treated as a mere commodity but rewarded according to each individual’s contribution to the national product – conceived as a common good. His paradigm integrates ethical insights, particularly from the Social Doctrine of the Catholic Church, to reinforce community-oriented economic relations. Pasinetti thus combines moral vision with scientific rigor, highlighting capitalism’s structural failure to generate equality and sustainable development on its own.