Growth and distribution ∗

Abstract

This article discusses some aspects of the relationship between economic growth and income distribution. The perspective taken is that of authors such as Kalecki, Keynes and the late Josef Steindl. First, the controversy between Malthus and Ricardo on the possibility of a ‘general glut’ of commodities is summarized. Next Keynes' criticism of ‘Says Law’ and Kaldor's attempt to generalize the principle of effective demand to the long run are dealt with. There follows a brief discussion of the investment-saving mechanism and of the paradox of thrift. The article concludes with some remarks on the relationship between the Sraffian and the Keynesian Criticism of neoclassical theory.

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