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Class Conflict and the Cambridge Theory of Income Distribution

Thomas Palley

Chapter 10 in Wages, Employment, Distribution and Growth, 2006, pp 223-246 from Palgrave Macmillan

Abstract: Abstract Understanding the determination of income distribution is a central concern of economics. Ricardo regarded it as the central issue of economics, writing that ‘(determining) the laws which regulate this distribution is the principal problem in political economy’ (Ricardo 1821: 5). Income distribution is clearly an important social and political concern, having ramifications for fairness and the social and political stability of society. How we explain income distribution also has major implications for how we understand the economy, thereby impacting attitudes and approaches to policy.

Keywords: Income Distribution; Capacity Utilization; Wage Distribution; Ownership Share; Dividend Payout (search for similar items in EconPapers)
Date: 2006
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DOI: 10.1057/9780230371781_11

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