This paper discusses developments in capital theory since the publication of Kaldor's seminal paper Alternative Theories of Distribution. It argues that different approaches simplify issues in different ways and that each of these simplifications is important in developing a coherent and comprehensive theory of capital and distribution. The paper reviews the work of neoclassical authors, post-Keynesians, Hicks and Sraffa and includes comments on the extent to which the theoretical framework can incorporate generalisations such as increasing returns.
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Paper provided by Portsmouth University - Department of Economics in its series Papers with number
108.
Find related papers by JEL classification: B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Institutional; Evolutionary E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian