Structural change and economic growth

Luigi L. Pasinetti

This book presents an original theoretical treatment of the problems of maintaining full employment in a multisector economic system with a growing population and different rates of technical progress in different sectors. The conditions for full employment and full capacity utilisation are examined when prices are stable and when there is inflation. The entirely new approach is carried out, not in terms of input-output relations, as has become customary in multisector models, but rather in terms as vertically integrated sectors. Theis makes it possible to analyse the economic growth process in terms of the structural dymanics of production, of prices and of employment.

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