Production Factors - Productive Factors & Income Distribution DRAFT PAPER for discussion and further development
Unfortunately, there are no globally agreed definitions on the key terms mentioned above. Nor are there any globally accepted approaches and/or remedies to the economic relations of mankind. The major aims of this work are partly to reconsider and when necessary to redefine, the “conventional” key concepts such as labor, capital, interest, rent, and accordingly analyze the distribution of functional income. The questions to be analyzed in the following sections are: Which are the factors of production? Is the term production factor identical with the term productive factor ? What is the difference between them? Which factors “earn ” a share of the income generated? And which receive an “unearned” share? Which forces influence the distribution and redistribution of income among labor and capital; the ability to generate value or the ownership rights?
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