Reconstructing political economy : a survey of Luigi Pasinetti’s contributions to economic theory

Luigi L. Pasinetti (1930–2023) was one of the most original and\r\nradical Italian economists, paving the way for a research program\r\nalternative to neoclassical economics. Throughout his long career,\r\nhe sought to develop a rigorous theory for analysing the dynam-\r\nics of modern capitalist economies and indicate viable criteria for\r\npolicy design towards equitable development based on the prior-\r\nity of human labour in all its dimensions. Along with Piero Sraffa\r\nand Pierangelo Garegnani, he was a leading figure in the\r\nClassical-Keynesian approach. He interacted and engaged, often\r\nsuccessfully, with the most important economists of the 20th cen-\r\ntury. He also covered leading positions in various scientific associ-\r\nations. Among these, he was President of SIE (Italian Economic\r\nSociety) from 1986 to 1989, and of ESHET (European Society for\r\nthe History of Economic Thought) from 1995 to 1997. In this\r\nessay, we provide a synthesis of Pasinetti’s major contributions to\r\neconomic theory and offer a preliminary overview of the most\r\nrelevant issues left open for further research.