Thomas Piketty is the most politically and economically important participant in the ongoing debate about the deleterious effects of income and wealth inequality. The article analyses his arguments carefully because they give Marxists an opportunity to intervene in a mainstream...

Keynes, following the tradition of Marx, argued that all values are created by labour and profits. However, functional income distribution between wages and profits is explained differently. In Marx's explanation of functional income distribution, wages are given as a basket of goods needed for...