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What did Pasinetti develop concerning economic growth?

  • Theory of Structural Change

  • Efficient Market Hypothesis

  • Prospect Theory

  • Real Business Cycle Theory

Answer

Theory of Structural Change, coined by Italian economist Luigi Pasinetti, posits that economic growth doesn't solely rely on capital accumulation but also on structural changes in the economy. These changes involve a shift in resource allocation from sectors with lower productivity to those with higher productivity, enabling sustained growth.
The Pasinetti Puzzle: Unravel the Legacy of Luigi Pasinetti

The Pasinetti Puzzle: Unravel the Legacy of Luigi Pasinetti

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