Heat a large stock pot or saute pan over medium high heat. Add olive oil and ground beef. Use a wooden spoon or spatula to break the beef apart into smaller and smaller chunks while it cooks.
Once there is little to no pink left in the meat, add the onion, garlic, salt and pepper. Stir and allow to cook until the onion is translucent.
Add the peppers and carrots, stirring to combine well. Once heated through add the sugar, Italian Seasoning and tomato paste. Cook while stirring frequently until the tomato paste has darkened and almost caramelized (but not burned!). This will take about 5 minutes.
Add the crushed and diced canned tomatoes, stirring to combine them with the other ingredients. When it begins to boil, turn the heat down to a low simmer, cover with a lid. Continue to simmer for up to 3 hours, stirring about every 20 minutes to make sure that it isn't sticking or burning to the bottom of the pan.
Stir cooked pasta into the sauce, plate and garnish with fresh pasta and freshly grated parmesan cheese when ready to eat. Otherwise, let cool and store in a sealed container in the fridge for 3-5 days or freezer for several months.