Franco Modigliani's first published paper became one of the basic documents of modern Keynesian economics. In it he formalized the model (or at least one model) implicit in The General Theory. Modigliani argued that the characteristic Keynesian conclusions rest fundamentally on the (realistic)...

Franco Modigliani's first published paper became one of the basic documents of modern Keynesian economics. In it he formalized the model (or at least one model) implicit in The General Theory. Modigliani argued that the characteristic Keynesian conclusions rest fundamentally on the (realistic)...

The paper surveys the main theories of income distribution in their relationship with the theories of economic growth. First, the Classical approach is considered, focusing on the Ricardian theory. Then the neoclassical theory is discussed, highlighting its origins (Bohm-Bawerk, Wicksell, Clark)...

The paper surveys the main theories of income distribution in their relationship with the theories of economic growth. First, the Classical approach is considered, focusing on the Ricardian theory. Then the neoclassical theory is discussed, highlighting its origins (Bohm-Bawerk, Wicksell, Clark)...