A necessary and sufficient condition for an input to be inferior is that, taking into account the input adjustment, an increase of its price raises the marginal productivity of all inputs. Contrary to a widespread opinion, it is not necessary that (some) inputs are rivals (i.e., that some...

The Cambridge, England, critique of the marginal productivity theory of distribution is hard to disentangle from the related theories and developments that occurred alongside it. These include value theory, price theory, capital theory, growth theory and methodology. Indeed, in the event, I...

chapter Introduction -- chapter 1 Basic concepts -- chapter 2 Forerunners and founders W. Petty (1623–1687), T.R Malthus (1766–1834), -- chapter 3 Followers and critics, 1900 to 1920: from Hobson to Adriance -- chapter 4 Followers and critics, 1920 to 1940: From Cassel to Fraser -- chapter 5...