Power, Wages, and the Market: Kurt Rothschild’s Vision of Distribution in a Post-Keynesian Framework

Hagen M. Krämer ()
Additional contact information
Hagen M. Krämer: Karlsruhe University of Applied Sciences

No 118-2025, FMM Working Paper from IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute

Abstract: Kurt W. Rothschild, an Austrian economist known for his multiparadigmatic and inter¬discipli-nary approach, made significant contributions to Keynesian and post†Keynesian economic theory. Born in 1914 in Vienna, his work encompassed price theory, labor market economics, growth and distribution, power and ethics in economics, and economic policy. His incisive critique of neoclassical theories, advocacy for state intervention, and commitment to methodological pluralism distinguish his work as a vital contribution to economic thought. Since income distribution is a central theme in Rothschild’s research, this paper examines his contributions to post†Keynesian distribution theory. Following a brief overview of his life, academic formation, and the historical context that shaped his thinking, the paper explores his theoretical innovations, emphasizing his rejection of mono†causal explanations in favor of an approach that integrates economic, political, and social dynamics. Rothschild’s perspective on income distribution as a product of complex interactions between markets, institutions, power structures, and ongoing conflict is a defining feature of his work. The paper concludes by assessing the continued relevance of his insights for contemporary economic research. His legacy remains a guiding framework for scholars seeking a more holistic and dynamic understanding of income distribution and its policy implications.

Keywords: Kurt Rothschild; Multiparadigmatic Approach; Post†Keynesian Theory; Bargaining Power; Labor Market Economics; Distribution Theory (search for similar items in EconPapers)
JEL-codes: D31 E24 J31 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2025
New Economics Papers: this item is included in nep-his, nep-hpe, nep-lma and nep-pke
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.boeckler.de/pdf/p_fmm_imk_wp_118_2025.pdf (application/pdf)

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:imk:fmmpap:118-2025

Access Statistics for this paper

More papers in FMM Working Paper from IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute Contact information at EDIRC.
Bibliographic data for series maintained by Sabine Nemitz ().