Pasinetti's "Structural change and economic growth": a conceptual excursus

A clear and organic exposition of Pasinetti's theoretical framework of Structural Change and Economic Growth has been prevented by misunderstandings and ambiguities concerning basic categories and terminology. The pre-institutional character of the approach, the nature of its equilibrium paths and the significance-and normative character—of the `natural' economic system are some of the most controversial issues. The aim of this article is to present a conceptual excursus of the model to establish a solid foundation for fruitful discussions to be held with other Classical approaches.