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Pasinetti on Post-Keynesian Income Distribution and Growth Theory: The Basic Issues

In: Luigi L. Pasinetti: An Intellectual Biography

Author

Listed:
  • Mauro L. Baranzini

    (University of Lugano)

  • Amalia Mirante

    (University of Applied Sciences of Southern Switzerland and University of Lugano)

Abstract

Baranzini and Mirante consider here the basic issues of the second ‘Two-Cambridges controversy’ on income distribution and profit determination. It was sparked by Pasinetti in 1962; and the controversy saw him, Nicky Kaldor, Richard Kahn and Joan Robinson on the Cambridge UK side, and Samuelson, Modigliani, Stiglitz, Meade and even Frank Hahn on the Cambridge US side. This controversy has generated at least 400 papers in scholarly journals, numerous books and a ‘must’ reference in a large number of textbooks. Pasinetti’s paper has about 350 quotations in the Social Science Citation index. This chapter expounds the origins and the implications of the so-called Pasinetti’s Theorem (‘Cambridge equation’), as well as of the Anti-Pasinetti, or Dual, Theorem formulated by Samuelson and Modigliani in 1966.

Suggested Citation

  • Mauro L. Baranzini & Amalia Mirante, 2018. "Pasinetti on Post-Keynesian Income Distribution and Growth Theory: The Basic Issues," Palgrave Studies in the History of Economic Thought, in: Luigi L. Pasinetti: An Intellectual Biography, chapter 6, pages 131-176, Palgrave Macmillan.
    • Handle: RePEc:pal:pshchp:978-3-319-71072-3_6
    DOI: 10.1007/978-3-319-71072-3_6
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