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Nicholas Kaldor and Mainstream Economics pp 164–189Cite as

Palgrave Macmillan

Post-Keynesian Theory of Distribution in the Long Run

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Abstract

As is well known, the post-Keynesian theory of distribution was generated during the 1950s in Cambridge (Cambridgeshire). The first formal presentation was given in a seminal paper in 1956 by Kaldor. After that Kaldor utilized this theory in formalizing several growth models (Kaldor, 1957,1961; Kaldor and Mirrlees, 1962) in order to provide a solution to Harrod’s problem on the convergence of the ‘warranted’ growth rate to the ‘natural’ growth rate. After 1966 Kaldor did not return to the post-Keynesian theory of distribution except to clarify the origins of the theory (Kaldor, 1978, 1980).

I would like to thank Tom Asimakopulos, Elido Fazi, Donald Harris, Carlo Panico, and the participants to the Conference for discussions on the present paper. Acknowledgment is also given to MPI (the Italian Ministry of Public Education) for financial support.

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Authors
  1. N. Salvadori
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Editors and Affiliations

  1. New School for Social Research, New York, USA

    Edward J. Nell (Professor of Economics) & Willi Semmler (Associate Professor of Economics) (Professor of Economics) &  (Associate Professor of Economics)

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© 1991 Edward J. Nell and Willi Semmler

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Salvadori, N. (1991). Post-Keynesian Theory of Distribution in the Long Run. In: Nell, E.J., Semmler, W. (eds) Nicholas Kaldor and Mainstream Economics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-10947-0_9

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