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Kłopoty z marginalną teorią podziału Clarka

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  • Tokarski, Tomasz
  • Zachorowska-Mazurkiewicz, Anna

Abstract

The main objective of the article is to demonstrate the falseness of the so-called marginal theory of distribution as it is used today. This theory was originally coined by American economist John Bates Clark in the late 19th century. However, the modern version of the theory, used in macroeconomic models including dynamic stochastic general equilibrium (DSGE) modeling, departs from the original concept. In the first section of this article, the history of the theory of distribution is presented, from the time Clark formulated the theory to the present day. In the following section, a formal proof of the falseness of the contemporary version of the marginal theory of distribution is shown. The proof is illustrated by examples using data from Italy and Poland.

Suggested Citation

  • Tokarski, Tomasz & Zachorowska-Mazurkiewicz, Anna, 2016. "Kłopoty z marginalną teorią podziału Clarka," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2016(5), December.
    • Handle: RePEc:ags:polgne:359107
    DOI: 10.22004/ag.econ.359107
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    References listed on IDEAS

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    1. John Bates Clark, 1907. "Concerning the Nature of Capital: A Reply," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 21(3), pages 351-370.
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    3. Lucas, Robert E, Jr, 1990. "Why Doesn't Capital Flow from Rich to Poor Countries?," American Economic Review, American Economic Association, vol. 80(2), pages 92-96, May.
    4. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    5. Kris Feder, 2003. "18 Clark: Apostle of Two‐Factor Economics," American Journal of Economics and Sociology, Wiley Blackwell, vol. 62(5), pages 353-393, November.
    6. Jesus Felipe & Franklin M. Fisher, 2003. "Aggregation in Production Functions: What Applied Economists should Know," Metroeconomica, Wiley Blackwell, vol. 54(2‐3), pages 208-262, May.
    7. Walter Nonneman & Patrick Vanhoudt, 1996. "A Further Augmentation of the Solow Model and the Empirics of Economic Growth for OECD Countries," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 111(3), pages 943-953.
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