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Distribution and Growth

In: Economic Papers 1941–88

Author

Listed:
  • Josef Steindl

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.

Suggested Citation

  • Josef Steindl, 1990. "Distribution and Growth," Palgrave Macmillan Books, in: Economic Papers 1941–88, chapter 12, pages 149-165, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-20821-0_12
    DOI: 10.1007/978-1-349-20821-0_12
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    Citations

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    Cited by:

    1. Eckhard Hein, 2018. "Stagnation policy in the Eurozone and economic policy alternatives: A Steindlian/neo-Kaleckian perspective," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 44(3), pages 315-348.
    2. Eckhard Hein, 2017. "Stagnation policy in the Eurozone and economic policy alternatives," FMM Working Paper 05-2017, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    3. Eckhard Hein, 2016. "Secular stagnation or stagnation policy? Steindl after Summers," PSL Quarterly Review, Economia civile, vol. 69(276), pages 3-47.

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