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 radical Italian economists, paving the way for a research program alternative to neoclassical economics. Throughout his long career, he sought to develop a rigorous theory for analysing the dynam- ics of modern capitalist economies and indicate viable criteria for policy design towards equitable development based on the prior- ity of human labour in all its dimensions. Along with Piero Sraffa and Pierangelo Garegnani, he was a leading figure in the Classical-Keynesian approach. He interacted and engaged, often successfully, with the most important economists of the 20th cen- tury. He also covered leading positions in various scientific associ- ations. Among these, he was President of SIE (Italian Economic Society) from 1986 to 1989, and of ESHET (European Society for the History of Economic Thought) from 1995 to 1997. In this essay, we provide a synthesis of Pasinetti’s major contributions to economic theory and offer a preliminary overview of the most relevant issues left open for further research.