Distribution and Growth

Josef Steindl

Chapter 12 in Economic Papers 1941–88, 1990, pp 149-165 from Palgrave Macmillan

Abstract: Abstract 1. No doubt distribution is a subject which cannot be treated fully within the narrow framework of ‘pure’ economic theory. It depends too much on institutions, politics and history. Yet there is a macroeconomic relation which should not be neglected in any treatment of the subject: the influence of growth on distribution. This appears already in Marx’s ‘law of accumulation’. It is seen in the model of von Neumann where growth rate and profit rate are equal. It is suggested by Kalecki’s profit equation (profits are equal to investment plus capitalists consumption) from which both Joan Robinson’s golden age rule and Kaldor’s distribution paper are derived.

Keywords: Capital Stock; Profit Margin; Budget Deficit; Output Capacity; Profit Rate (search for similar items in EconPapers)
Date: 1990
References: Add references at CitEc
Citations: View citations in EconPapers (4)

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:palchp:978-1-349-20821-0_12

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349208210

DOI: 10.1007/978-1-349-20821-0_12

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().