Economic Theory, Welfare, and the State looks at how economic theory can be used to investigate and analyse the operations of market economies and to provide the basis for improvements in government policy-making. The collection begins with two chapters on the history of economic thought,...

1 Introduction -- 2 The Classical Theory of Distribution -- 3 Marx’s Theory of Income Distribution -- 4 Distribution: Neo-Classical -- 5 The Distribution Theory of Marshall’s Principles -- 6 Post-Keynesian Theories of Distribution -- 7 The Neo-Ricardian Approach and the Distribution of...