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"In recent years there have been a number of new developments in what came to be known as the "Capital Theory Debates …". The debates took place mainly during the 1960s as a result of Piero Sraffa's critique of the neoclassical theory according … summarizes the debates and issues around the theory of capital and brings to the fore the more recent developments. It also …
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This paper studies two formal models of long run growth with a medium-run distributive cycle, both of which feature causal links from the rise in inequality to a deterioration of long run macroeconomic performance. Both versions feature an endogenous income-capital ratio: one through the...
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Human capital theory is the dominant approach for understanding personal income distribution. According to this theory … higher income. But is this really the case? This paper takes a critical look at human capital theory and its explanation of … personal income distribution. I find that human capital theory's claims are dubious at best. In most cases, the theory is …
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theory. …
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