A Kaleckian Perspective on Changes in the Aggregate Income Distribution in the US

Tracy Mott and Mark Evers

Chapter 11 in Michał Kalecki in the 21st Century, 2015, pp 182-197 from Palgrave Macmillan

Abstract: Abstract In Michał Kalecki’s (1954/1991) major article on the distribution of the national income between wages and profits, he wrote that national income is measured as value added minus the cost of material inputs and as a result, n a t o n a l i n c o m e = a g g r e g a t e w a g e s + O v e r h e a d s + p r o f i t s $$natonal\;income = aggregate\;wages + Overheads + profits$$ Overheads + profits are equal to the aggregate of the percentage mark-up of prices over direct costs minus the aggregate sum of these costs, which are wages plus materials costs. The relative shares of wages, profits and overheads in national income will then be determined, Kalecki showed, by the mark-up, the ratio of materials to wage costs and the composition of industry, which affects relative shares since different industries have different mark-ups and ratios of materials to wage costs.

Keywords: Real Wage; National Income; Stock Option; Unit Labour Cost; Wage Income (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:pshchp:978-1-137-42828-8_12

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137428288

DOI: 10.1057/9781137428288_12

Access Statistics for this chapter

More chapters in Palgrave Studies in the History of Economic Thought from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().