In 1969 the American neoclassical economist C.E. Ferguson wrote that reliance on neoclassical aggregate production and distribution theory is a 'matter of faith' to be sorted out (he says 'answered') by econometricians. Ferguson was criticized on both sides of the debate for invoking this...

The question of a constant wage share (Bowley's Law) has long been both an empirical and theoretical point of contention between rival theories of macroeconomic (functional) distribution. This paper explores some of these theoretical debates and issues related to Bowley's Law in contextualizing...