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Income distribution, profit, and real shares

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  • Kakarot-Handtke, Egmont

Abstract

This paper clarifies first the nature and significance of financial profit by applying the structural axiom set as consistent point of departure. As a crucial result the fundamental theorem of income distribution emerges. It states: profit is no factor income. Since the individual firm is blind to this structural fact it subjectively interprets profit as some kind of reward. As a matter of fact, firms do not ‘make’ profit, they only redistribute it among themselves. With profit consistently defined it is possible to determine the nominal and real shares of the elementary income categories wage income and distributed profit.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 43291.

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Date of creation: 02 Mar 2012
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Handle: RePEc:pra:mprapa:43291

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Keywords: new framework of concepts; structure-centric; axiom set; financial profit; distributed profit; retained profit; key ratios; period core; invisible redistributor; nominal wage share; real wage share;

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References

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  1. Tomasson, Gunnar & Bezemer, Dirk J, 2010. "What is the Source of Profit and Interest? A Classical Conundrum Reconsidered," MPRA Paper 20320, University Library of Munich, Germany.
  2. Kakarot-Handtke, Egmont, 2011. "The pure logic of value, profit, interest," MPRA Paper 30853, University Library of Munich, Germany.
  3. Kakarot-Handtke, Egmont, 2011. "When Ricardo saw profit, he called it rent: on the vice of parochial realism," MPRA Paper 33625, University Library of Munich, Germany.
  4. Kakarot-Handtke, Egmont, 2011. "Keynes’s missing axioms," MPRA Paper 32742, University Library of Munich, Germany, revised 11 Aug 2011.
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Cited by:
  1. Kakarot-Handtke, Egmont, 2013. "Understanding Profit and the Markets: The Canonical Model," MPRA Paper 48691, University Library of Munich, Germany.
  2. Kakarot-Handtke, Egmont, 2012. "The rhetoric of failure: a hyper-dialog about method in economics and how to get things going," MPRA Paper 43276, University Library of Munich, Germany.
  3. Kakarot-Handtke, Egmont, 2003. "How to Get Rid of Demand–Supply–Equilibrium for Good," MPRA Paper 46917, University Library of Munich, Germany.

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