Structural dynamics and the wealth of nations. Luigi Pasinetti's system of economic theory

Cardinale, Ivano; Galbraith, James and Scazzieri, Roberto. 2024. Structural dynamics and the wealth of nations. Luigi Pasinetti's system of economic theory. Structural Change and Economic Dynamics, 69, pp. 692-698. ISSN 0954-349X [Article]

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Abstract or Description

The article presents Luigi Pasinetti’s theoretical system by foregrounding (i) the multiple forms of interdependence between specialised production activities, and the representations of economic structure associated with each form of interdependence (e.g., horizontal vs. vertical); (ii) the coordination requirements imposed on interdependent activities by the need to achieve systemic goals such as full employment and full utilization of production capacity; (iii) the bounded open-endedness of the proportions between activities that satisfy such requirements; (iv) the distinction between the coordination requirements imposed by economic structure and the contextual conditions that may or may not make it possible to satisfy those requirements; and hence (v) the different socio-political and institutional arrangements that may be compatible with different systemic objectives. In this light, the essay introduces a collection of articles published in Structural Change and Economic Dynamics that explores the interfaces between Pasinetti’s work and multiple lines of research in economics.

Item Type:

Article

Identification Number (DOI):

https://doi.org/10.1016/j.strueco.2023.11.019

Departments, Centres and Research Units:

Institute of Management Studies
Institute of Management Studies > Structural Economic Analysis

Dates:

DateEvent
28 November 2023Accepted
28 November 2023Published Online
June 2024Published

Item ID:

34434

Date Deposited:

14 Dec 2023 10:55

Last Modified:

30 May 2024 13:54

Peer Reviewed:

Yes, this version has been peer-reviewed.

URI:

https://research.gold.ac.uk/id/eprint/34434

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