Pierangelo Garegnani, as perceived in the late 1980s
DOI:
https://doi.org/10.13133/2037-3651/17877Keywords:
Garegnani, capital controversies, long run, short run, KeynesAbstract
This article reviews and discusses nine of the contributions given by Pierangelo Garegnani to economic theory: his role in the Cambridge capital controversies; the consequences of the controversies for the theory of value and the theory of labour demand; the methodological distinction between the short period and the long period; the issue of gravitation towards natural prices and the core of economic analysis; the non-validity of general equilibrium theory in the short period; Keynes and the General Theory; the determination of the normal profit rate via the money rate of interest rather than through the Cambridge equation; an empirical assessment of the Cambridge capital controversies and Garegnani’s views on investment theory.
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