Which theory did Pasinetti's work help develop analytically?
Quantum Economics
Behavioral Economics
Neo-Ricardian Economics
Modern Monetary Theory
Answer
Neo-Ricardian Economics, as advanced by Luigi Pasinetti's analytical contributions, posits that profits arise from technical differences in production methods among industries, rather than solely from labor exploitation. This approach critiques traditional Marxist theories on surplus value and provides an alternative perspective on the distribution of income in a capitalist economy, drawing inspiration from classical economists like David Ricardo.
The Pasinetti Puzzle: Unravel the Legacy of Luigi Pasinetti
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