Growth and Income Distribution: Essays in Economic Theory.

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First Edition, first printing (the first edition is sometimes misidentified as 1975). x, 151 pp. Original cloth. Near Fine, in near fine dust jacket (British price-clipped). 'Leading member of the second generation of Cambridge Keynesians, Luigi Pasinetti also founded its Neo-Ricardian strain. . . . His efforts to develop the Neo-Ricardian strain are well-documented in his stunningly clear Lectures (1977) and in his Essays (1974) and his even more remarkable 1981 treatise' (History of Economic Thought Web site). 'In 'Rate of Profit and Income Distribution in Relation to the Rate of Economic Growth,' (1962) . . . Pasinetti showed that the rate of profit in Kaldorian growth equilibrium is totally independent of the saving propensities of the working class, depending only on the saving rate of capitalists. This 'bootstrap' theorem, whereby capitalists appear to be capable of raising the profitability of their own capital simply by saving more, generated a great deal of discussion, which resulted, as so often happens in economics, in the conclusion that it all depends on a number of other circumstances, which may or may not prevail. This and other relevant papers by Pasinetti are reprinted in his Growth and Income Distribution--Essays in Economic Theory' (Mark Blaug, Great Economists Since Keynes, p. 191). N° de ref. del artículo 15058

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