With which controversy is Pasinetti associated?
The Quantity Theory of Money
The Cambridge Capital Controversy
The Phillips Curve
The Laffer Curve
Answer
The Cambridge Capital Controversy is associated with Italian economist Luigi Pasinetti. It revolves around the debate on the nature and role of profits in a capitalist economy. Pasinetti argued that profits arise from the exploitation of workers by capitalists, challenging traditional theories that viewed profits as a reward for risk-taking or innovation. This perspective has influenced macroeconomic theories and policy discussions on income distribution and economic inequality.
The Pasinetti Puzzle: Unravel the Legacy of Luigi Pasinetti
More Questions
Subscribe Now!
Learn something
new everyday
Playing quizzes is free! We send 1 quiz every week to your inbox