The Dynamics of the Wealth of Nations Growth, Distribution and Struc
This collection of essays attempts to evaluate Luigi Pasinetti's contribution and to give new insights into the issues which he has illuminated. The volume also provides a general assessment of the significance of a number of key issues of the 'pure' Post
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I
Luigi Pasinetti
Drawing by Gino Arzuffi
The Dynamics of the Wealth of Nations Growth, Distribution and Structural Change Essays in Honour of Luigi Pasinetti Edited by
Mauro Baranzini Professor of Economics, Univel'sita di Verona
and
G. C. Harcourt
Reader in the History of Economic Theory, University of Cambridge, Fellow of Jesus College, Cambridge, and Professor Emeritus, University of Adelaide
M St. Martin's Press
© Mauro Baranzini and G. C. Harcourt 1993 Softcover reprint of the hardcover 1st edition 1993 978-0-333-57397-6 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London WIP 9HE. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. First published in Great Britain 1993 by THE MACMILLAN PRESS LTD Houndmills, Basingstoke, Hampshire RG21 2XS and London Companies and representatives throughout the world A c:atalogue record for this book is available from the British Library.
ISBN 978-1-349-22730-3 ISBN 978-1-349-22728-0 (eBook) DOI 10.1007/978-1-349-22728-0 First published in the United States of America 1993 by Scholarly and Reference Division, ST. MARTIN'S PRESS, INC., 175 Fifth Avenue, New York, N.Y. 10010
ISBN 978-0-312-09587-1 Library of Congress Cataloging-in-Publication Data The Dynamics of the wealth of nations: growth, distribution, and structural change: essays in honour of Luigi Pasinetti / edited by Mauro Baranzini and G. C. Harcoun. p. em. Includes bihliographical references and index.
ISBN 978-0-312-09587-1 I. Economics. 2. Economic history. 3. Pasinetti, Luigi L.
i. Pasinetti, Luigi L. Geoffrey Colin. HB171.D97 1993 33()-.{1e20
II. Baranzini, Mauro.
III. Harcou~
92-46517 CIP
Contents vii viii
List of Tables List of Figures Preface
x
List of Contributors
xii
Introduction Mauro Baranzini and G. C. Harcourt PART I:
RICARDO AND CLASSICAL POLITICAL ECONOMY
1
43
1 Marshall on Ricardo Peter Groenewegen
45
2 Physiocratic Dichotomy in Price Determination and its Ricardian Resolution Izumi Hishiyama
71
3 The 'Standard commodity' and Ricardo's Search for an 'Invariable Measure of Value' Heinz D. Kurz and Neri Salvadori
95
4 Ricardian Comparative Advantage and the Perils of the Stationary State Andrea Maneschi PART II:
ON CAPITAL THEORY
5 Samuelson and the 93% Scarcity Theory of Value A vi 1. Cohen PART III:
POST-KEYNESIAN INCOME DISTRIBUTION AND GROWfH THEORY
6 The Method of the Pure Ratio in Economic Analysis Amit Bhaduri v
124
147 149
173 175
Contents
VI
7 A Post-Keynesian Theory of Growth, Interest and Money Amitava K. Dutt and Edward J. Amadeo PART IV:
STRUCTURAL DYNAMICS AND VERTICAL INT
