A Theory of Value

By Luigi Pasinetti

© 2014 – Routledge

256 pages

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Hardback: 9780415416269
pub: 2015-12-01
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About the Book

A prominent member of the second generation of Cambridge Keynesians, Luigi Pasinetti has been a key player in the development of neo-Ricardian economics as well. Having studied under Piero Sraffa at Cambridge, he developed a mathematical representation of Ricardo's theory of value and distribution, as well as the reswitching problem in neoclassical capital theory: thus making him a leader of the British Cambridge side during the Cambridge Capital Controversy.

Since leaving Cambridge for Rome, he has become particularly interested in structural change, i.e. the responses of multi-sectoral models of the economy to technical changes.

This book draws together Pasinetti's main contributions in the field of value theory.

Table of Contents

1. Introduction 2. The Basic Philosophical Approach 3. The Input-output Approach and the Theory of Value 4. Vertical Integration and the Labour Theory of Value: A Step by Step Approach 5. A Generalised Theory of Labour Value

About the Author

Luigi Pasinetti is one of the most influential economists of the past half century and a key figure in the development of the Post-Keynesian and Neo-Ricardian schools of economics.

About the Series

Routledge Frontiers of Political Economy

In recent years, there has been widespread criticism of mainstream economics. This has taken many forms, from methodological critiques of its excessive formalism, to concern about its failure to connect with many of the most pressing social issues. This series provides a forum for research which is developing alternative forms of economic analysis. Reclaiming the traditional 'political economy' title, it refrains from emphasising any single school of thought, but instead attempts to foster greater diversity within economics.

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Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS023000
BUSINESS & ECONOMICS / Economic History
BUS069030
BUSINESS & ECONOMICS / Economics / Theory