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L. L. Pasinetti: When Workers Save

In: Rate of Profit, Distribution and Growth: Two Views

Author

Listed:
  • J. A. Kregel

    (University of Bristol)

Abstract

Kaldor’s basic distributional formulae, upon which his distribution theory rests, were corrected for certain omissions in a 1962 paper1 by Luigi Pasinetti. Pasinetti pointed out that, although Kaldor had made allowance for workers’ savings in his equations, he had not extended to them the possibility of purchasing capital with their savings, nor analysed the effects of the income the workers might receive from owning assets. After making the appropriate alterations, Pasinetti concluded that Kaldor’s results were valid, irrespective of the savings of workers.

Suggested Citation

  • J. A. Kregel, 1971. "L. L. Pasinetti: When Workers Save," Palgrave Macmillan Books, in: Rate of Profit, Distribution and Growth: Two Views, chapter 10, pages 141-150, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-01212-1_10
    DOI: 10.1007/978-1-349-01212-1_10
    as

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