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Luigi Pasinetti
Luigi L. Pasinetti (12 September 1930 – 31 January 2023) was an Italian economist of the post-Keynesian school. Pasinetti was considered the heir of the " Cambridge Keynesians" and a student of Piero Sraffa and Richard Kahn. Along with them, as well as Joan Robinson, he was one of the prominent members on the "Cambridge, UK" side of the Cambridge capital controversy. His contributions to economics include developing the analytical foundations of neo-Ricardian economics, including the theory of value and distribution, as well as work in the line of Kaldorian theory of growth and income distribution. He also developed the theory of structural change and economic growth, structural economic dynamics and uneven sectoral development. Biography Pasinetti was born on 12 September 1930 in Zanica, near Bergamo, in the north of Italy. He began his economics studies at Milan's Università Cattolica, where he obtained his "laurea" degree in 1954. The thesis that he presented deal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zanica
Zanica (Bergamasque: ) is a ''comune'' (municipality) of around 8,804 inhabitants in the Province of Bergamo in the Italy, Italian region of Lombardy, located about northeast of Milan and south of Bergamo. Zanica borders the following municipalities: Azzano San Paolo, Cavernago, Comun Nuovo, Grassobbio, Orio al Serio, Stezzano, Urgnano. Located at 210 m above sea level, the municipality was born on a flat territory, on the left of the Morla canal. The first official document citing Zanica as ''Vetianica'' dates back to 774. Now Zanica is an industrial and agricultural town, with some valuable buildings. The municipality is also considered the home land of Gioppino, the most famous mask in the province of Bergamo. Physical geography Territory Zanica is located in a flat territory. The extension of the municipality is 14.66 km2; around 10 km2 of them are used for agricultural or pasture reasons. The average altitude of Zanica is 210 m. Hydrography Zanica is cro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economist
An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are many sub-fields, ranging from the broad philosophy, philosophical theory, theories to the focused study of minutiae within specific Market (economics), markets, macroeconomics, macroeconomic analysis, microeconomics, microeconomic analysis or financial statement analysis, involving analytical methods and tools such as econometrics, statistics, Computational economics, economics computational models, financial economics, regulatory impact analysis and mathematical economics. Professions Economists work in many fields including academia, government and in the private sector, where they may also "study data and statistics in order to spot trends in economic activity, economic confidence levels, and consumer attitudes. They ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Oxford
The University of Oxford is a collegiate university, collegiate research university in Oxford, England. There is evidence of teaching as early as 1096, making it the oldest university in the English-speaking world and the List of oldest universities in continuous operation, second-oldest continuously operating university globally. It expanded rapidly from 1167, when Henry II of England, Henry II prohibited English students from attending the University of Paris. When disputes erupted between students and the Oxford townspeople, some Oxford academics fled northeast to Cambridge, where they established the University of Cambridge in 1209. The two English Ancient university, ancient universities share many common features and are jointly referred to as ''Oxbridge''. The University of Oxford comprises 43 constituent colleges, consisting of 36 Colleges of the University of Oxford, semi-autonomous colleges, four permanent private halls and three societies (colleges that are depar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harvard University
Harvard University is a Private university, private Ivy League research university in Cambridge, Massachusetts, United States. Founded in 1636 and named for its first benefactor, the History of the Puritans in North America, Puritan clergyman John Harvard (clergyman), John Harvard, it is the oldest institution of higher learning in the United States. Its influence, wealth, and rankings have made it one of the most prestigious universities in the world. Harvard was founded and authorized by the Massachusetts General Court, the governing legislature of Colonial history of the United States, colonial-era Massachusetts Bay Colony. While never formally affiliated with any Religious denomination, denomination, Harvard trained Congregationalism in the United States, Congregational clergy until its curriculum and student body were gradually secularized in the 18th century. By the 19th century, Harvard emerged as the most prominent academic and cultural institution among the Boston B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Cycle
Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, government institutions, and private sector firms. There are many definitions of a business cycle. The simplest defines recessions as two consecutive quarters of negative GDP growth. More satisfactory classifications are provided by, first including more economic indicators and second by looking for more data patterns than the two quarter definition. In the United States, the National Bureau of Economic Research oversees a Business Cycle Dating Committee that defines a recession as "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." Business cycles are usually thought of as medium-term ev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Econometrics
Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. M. Hashem Pesaran (1987). "Econometrics", '' The New Palgrave: A Dictionary of Economics'', v. 2, p. 8 p. 8–22 Reprinted in J. Eatwell ''et al.'', eds. (1990). ''Econometrics: The New Palgrave''p. 1 p. 1–34Abstract ( 2008 revision by J. Geweke, J. Horowitz, and H. P. Pesaran). More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference." An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships." Jan Tinbergen is one of the two founding fathers of econometrics. The other, Ragnar Frisch, also coined the term in the sense in which it is used today. A basic tool for econometrics is the multiple linear regression model. ''Econome ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Laurea
In Italy, the ''laurea'' is the main post-secondary academic degree. The name originally referred literally to the laurel wreath, since ancient times a sign of honor and now worn by Italian students right after their official graduation ceremony and sometimes during the graduation party. A graduate is known as a ''laureato'', literally "crowned with laurel" and is awarded the title of ''dottore'', or Doctor. The ''Laurea'' degree before the Bologna process Early history In the early Middle Ages Italian universities awarded both bachelor's and doctor's degrees. However very few bachelor's degrees from Italian universities are recorded in the later Middle Ages and none after 1500. Students could take the doctoral examination without studying at the university. This was criticised by northern Europeans as taking a degree because they had leapt over the regulations requiring years of study at the university. Twentieth century To earn a ''laurea'' (degree) undergraduate student ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bergamo
Bergamo ( , ; ) is a city in the Alps, alpine Lombardy region of northern Italy, approximately northeast of Milan, and about from the alpine lakes Lake Como, Como and Lake Iseo, Iseo and 70 km (43 mi) from Lake Garda, Garda and Lake Maggiore, Maggiore. The Bergamo Alps () begin immediately north of the city. With a population of 120,580 as of 2025, Bergamo is the fourth-largest city in Lombardy. Bergamo is the seat of the province of Bergamo, which counts more than 1,115,037 residents as of 2025. The metropolitan area of Bergamo extends beyond the administrative city limits, spanning over a densely urbanized area with slightly fewer than 500,000 inhabitants. The Bergamo metropolitan area is itself part of the broader Milan metropolitan area, home to more than 8 million people. The city of Bergamo is composed of an old walled core, known as ('Upper Town'), nestled within a Parco dei Colli di Bergamo, system of hills, and the modern expansion in the plains below. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Structural Change
In economics, structural change is a shift or change in the basic ways a market or economy functions or operates. Such change can be caused by such factors as economic development, global shifts in capital and labor, changes in resource availability due to war or natural disaster or discovery or depletion of natural resources, or a change in political system. For example, a subsistence economy may be transformed into a manufacturing economy, or a regulated mixed economy may be liberalized. A current driver of structural change in the world economy is globalization. Structural change is possible because of the dynamic nature of the economic system. Patterns and changes in sectoral employment drive demand shifts through the income elasticity. Shifting demand for both locally sourced goods and for imported products is a fundamental part of development. The structural changes that move countries through the development process are often viewed in terms of shifts from primary, to seco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kaldor's Growth Laws
Kaldor's growth laws are a series of three laws relating to the causation of economic growth. Looking at the countries of the world now and through time Nicholas Kaldor noted a high correlation between living standards and the share of resources devoted to industrial activity, at least up to some level of income. Only New Zealand, Australia and Canada have become rich whilst relying mainly on agriculture. He proposed three laws on these empirical regularities: #The growth of the GDP is positively related to the growth of the manufacturing sector. This is perhaps better stated in terms of GDP growth being faster the greater the excess of growth of industrial growth relative to GDP growth: that is when the share of industry in GDP is rising. #The productivity of the manufacturing sector is positively related the growth of the manufacturing sector (this is also known as Verdoorn's law). Here the argument is that there are increasing returns to scale in manufacturing. These may be sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Distribution (economics)
In economics, distribution is the way total output, income, or wealth is distributed among individuals or among the factors of production (such as labour, land, and capital). In general theory and in for example the U.S. National Income and Product Accounts, each unit of output corresponds to a unit of income. One use of national accounts is for classifying factor incomes and measuring their respective shares, as in national Income. But, where focus is on income of ''persons'' or ''households'', adjustments to the national accounts or other data sources are frequently used. Here, interest is often on the fraction of income going to the top (or bottom) ''x'' percent of households, the next ''x'' percent, and so forth (defined by equally spaced cut points, say quintiles), and on the factors that might affect them (globalization, tax policy, technology, etc.). History Distribution has been central in the study of political economy since the 19th century, as shown in scholarship ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neo-Ricardianism
The neo-Ricardian school is an economic school of thought that derives from the close reading and interpretation of David Ricardo by Piero Sraffa, and from Sraffa's critique of neoclassical economics as presented in his ''The Production of Commodities by Means of Commodities'', and further developed by the neo-Ricardians in the course of the Cambridge capital controversy. It particularly disputes the neoclassical theory of income distribution. Robert Rowthorn, in his 1974 articleNeo-classicism, neo-Ricardianism and Marxismin the New Left Review (I, 86), coined the name. Franklin Delano Roosevelt III, with his dissertation, ''Towards a Marxist Critique of the Cambridge School'', put forth a similar view. The name "Sraffian economics" is also used.Heinz D. Kurz and Neri Salvadori, "Neo-Ricardian economics", in Gilbert Faccarello, Heinz D. Kurz (eds.), ''Handbook on the History of Economic Analysis, Volume II: Schools of Thought in Economics'' (2016) Prominent neo-Ricardians are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
