| The present study seeks to examine a number of important questions in the theory of income distribution from a heterodox economic perspective, an approach to economic theory that is inherently interdisciplinary. The primary questions concern the Cambridge critique of orthodox economics, the classical/Marxian theory of wage determination, a synthesis of Kaleckian and Sraffian approaches to the functional distribution of income and, finally, the role of money and finance in a theory of distribution. All of the chapters are set against the backdrop of the precipitous rise in personal income inequality that has occurred within the US economy over the course of the past few decades. The overarching conclusion of the study is the need to build an alternative theory of income distribution along heterodox lines if we are to come to clearer understanding of this pressing social problem. While a number of the elements essential for the development of such a theory are discussed herein there still remains much work to be done. |
