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Structural Change and Economic Growth : A Theoretical Essay on the Dynamics of the Wealth of Nations - Luigi L. Pasinetti

Structural Change and Economic Growth

A Theoretical Essay on the Dynamics of the Wealth of Nations

Paperback Published: 2nd May 1983
ISBN: 9780521274104
Number Of Pages: 300

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First published in 1981 this book presents an original theoretical treatment of the problems of maintaining full employment in a multisector economic system with a growing population and different rates of technical progress in different sectors. The conditions for full employment and full capacity utilisation are examined when prices are stable and when there is inflation. This approach is carried out, not in terms of input-output relations, as has become customary in multisector models, but rather in terms of vertically integrated sectors. This makes it possible to analyse the economic growth process in terms of the structural dynamics of production, of prices and of employment. Remarkable implications are drawn for a surprisingly large number of theoretical problems, which have been under discussion since Adam Smith: from price theory to the theory of rates of profit and the rates of interest; from production theory to the theories of fluctuating growth, ever-changing composition of output, choice of technique and international trade.

Industry Reviews

Review of the hardback: '... presents an important and powerful vision ... an impressive and thought provoking book.' The Manchester School Review of the hardback: '... this book ... must be considered the most important contribution to this area since Joan Robinson's challenge to the profession in the 1956 publications, The Accumulation of Capital.' De Economist 'This is the culmination of Professor Pasinetti's work on growth and income distribution, to which he has already made such notable contributions. ... The book is written with the analytical clarity and penetration which Pasinetti's readers have come to expect.' The Economic Journal

A Multi-Sector Model of Economic Growth
Production in the short run
The simplest case of economic expansion - population growth with constant returns to scale
Technical change and the dynamics of demand
A general multi-sector dynamic model
The empirical significance of vertically integrated analysis
Economic Dynamics Theory
The 'natural' features of a growing economic system
The 'natural' rate of interest
The accumulation of capital and related problems
The structural dynamics of a growing economic system
International economic relations
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521274104
ISBN-10: 0521274109
Audience: Tertiary; University or College
Format: Paperback
Language: English
Number Of Pages: 300
Published: 2nd May 1983
Country of Publication: GB
Dimensions (cm): 22.86 x 15.24  x 1.7
Weight (kg): 0.44