A prominent member of the second generation of Cambridge Keynesians, Luigi Pasinetti has been a key player in the development of neo-Ricardian economics as well. Having studied under Piero Sraffa at Cambridge, he developed a mathematical representation of Ricardo's theory of value and distribution, as well as the reswitching problem in neoclassical capital theory: thus making him a leader of the British Cambridge side during the Cambridge Capital Controversy.

Since leaving Cambridge for Rome, he has become particularly interested in structural change, i.e. the responses of multi-sectoral models of the economy to technical changes.

This book draws together Pasinetti's main contributions in the field of value theory.