Abstract
The factor incomes that appear in post-Keynesian theories of income distribution are profits (a category that includes interest and rent, as well as dividends and retained earnings) and wages (a category that includes salaries, except possibly the salaries of higher business executives that may be considered part of profits). There are three features that distinguish these theories: (1) they consider investment to be an important determinant of profits; (2) they assume that, at least over a wide range of possible values, investment is independent of saving, with saving adapting to investment; and (3) the propensity to save out of profits is assumed to be greater than the propensity to save out of wages.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Asimakopulos, A. (1975). A Kaleckian theory of income distribution. Canadian Journal of Economics 8 (August): 313–333.
Asimakopulos, A. (1983). A Kaleckian profits equation and the United States economy 1950–82. Metroeconomica 35 (Feb-June): 1–27.
Eichner, A.S. (1973). A theory of the determination of the mark-up under oligopoly. Economic Journal 83 (Dec): 1184–1200.
Eichner, A.S. (1976). The Megacorp and Oligopoly, Micro Foundations of Macro Dynamics. Cambridge: Cambridge University Press.
Harcourt, G.C., and Kenyon, P. (1976). Pricing and the investment decision. Kyklos 29 (Fasc. 3): 449–477.
Harrod, R.F. (1939). An essay in dynamic theory. Economic Journal 49 (March): 14–33.
Harrod, R.F. (1948). Towards a Dynamic Economics. London: Macmillan.
Harrod, R.F. (1970). Harrod after twenty-one years: a comment. Economic Journal 80 (Sept.): 737–741.
Kahn, Richard. (1959). Exercises in the analysis of growth. Oxford Economic Papers 11 (June): 143–156. Reprinted in Kahn (1972), pp. 192–207, and all page references in the text are to this reprinting.
Kahn, Richard. (1972). Selected Essays on Employment and Growth. Cambridge: Cambridge University Press.
Kaldor, Nicholas. (1955–56). Alternative theories of distribution. Review of Economic Studies 23 (2): 83–100. Reprinted in Kaldor (1960), pp. 209–236, and all page references in the text are to this reprinting.
Kaldor, Nicholas. (1960). Essays on Value and Distribution. London: Duckworth & Co. Ltd.
Kaldor, Nicholas. (1966). Marginal productivity and the macroeconomic theories of distribution. Review of Economic Studies 33 (Oct.): 309–319.
Kalecki, Michal. (1935a). Essai d’une théorie de mouvement cyclique des affaires. Revue d’économie politique 49 (mars/avril): 285–305.
Kalecki, Michal. (1935b). A macrodynamic theory of business cycles. Econometrica 3 (July): 327–344.
Kalecki, Michal. (1937). A theory of the business cycle. Review of Economic Studies 4 (Feb.): 77–97.
Kalecki, Michal. (1939). Essays in the Theory of Economic Fluctuations. London: Allen and Unwin.
Kalecki, Michal. (1942). A theory of profits. Economic Journal 52 (June-Sept.): 258–267.
Kalecki, Michal. (1954). Theory of Economic Dynamics. London: Allen and Unwin.
Kalecki, Michal. (1966). Studies in the Theory of Business Cycles: 1933–1939. Oxford: Basil Blackwell.
Kalecki, Michal. (1971). Selected Essays on the Dynamics of the Capitalist Economy: 1933–1970. Cambridge: Cambridge University Press.
Keynes, J.M. (1930). A Treatise on Money, Vol. I. London: Macmillan.
Keynes, J.M. (1936). The General Theory of Employment, Interest and Money. London: Macmillan.
Keynes, J.M. (1939). Relative movements of real wages and output. Economic Journal 49 (March): 34–51.
Meade, J.E. (1963). The rate of profit in a growing economy. Economic Journal (Sept.): 665–674.
Pasinetti, Luigi. (1962). Rate of profit and income distribution in relation to the rate of economic growth. Review of Economic Studies 29 (Oct.): 267–279.
Reprinted in Pasinetti (1974), pp. 103–120, and all references in the text are to this reprinting.
Pasinetti, Luigi. (1964). Professor Meade’s rate of profit in a growing economy. Economic Journal (June): 488–489.
Pasinetti, Luigi. (1966). New results in an old framework: comment on Samuelson and Modigliani. Review of Economic Studies (Oct.): 303–306.
Pasinetti, Luigi. (1974). Growth and Income Distribution: Essays in Economic Theory. Cambridge: Cambridge University Press.
Robinson, Joan. (1937). Essays in the Theory of Employment. London: Macmillan.
Robinson, Joan. (1956). The Accumulation of Capital. London: Macmillan.
Robinson, Joan. (1962). Essays in the Theory of Economic Growth. London: Macmillan.
Robinson, Joan. (1970). Harrod after twenty-one years. Economic Journal 80 (Sept.): 731–737.
Robinson, Joan. (1980). Collected Economic Papers, Vol. V. Oxford: Basil Blackwell.
Samuelson, Paul, and Modigliani, Franco. (1966). The Pasinetti paradox in neoclassical and more general models. Review of Economic Studies 33 (Oct.): 269–301.
Wood, Adrian. (1975). A Theory of Profits. Cambridge: Cambridge University Press.
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 1988 Kluwer Academic Publishers
About this chapter
Cite this chapter
Asimakopulos, A. (1988). Post-Keynesian Theories of Distribution. In: Asimakopulos, A. (eds) Theories of Income Distribution. Recent Economic Thought Series, vol 12. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-2661-5_6
Download citation
DOI: https://doi.org/10.1007/978-94-009-2661-5_6
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-010-7699-9
Online ISBN: 978-94-009-2661-5
eBook Packages: Springer Book Archive