Post-Keynesian Theory of Distribution in the Long Run
Neri Salvadori ()
Chapter 9 in Nicholas Kaldor and Mainstream Economics, 1991, pp 164-189 from Palgrave Macmillan
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).
Keywords: Interest Rate; Economic Study; Consumption Habit; Profit Rate; Saving Ratio (search for similar items in EconPapers)
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