Class Conflict and the Cambridge Theory of Income Distribution

Abstract

Understanding the determination of income distribution is a central concern of economics. Ricardo regarded it as the central issue of economics, writing that ‘(determining) the laws which regulate this distribution is the principal problem in political economy’ (Ricardo 1821: 5). Income distribution is clearly an important social and political concern, having ramifications for fairness and the social and political stability of society. How we explain income distribution also has major implications for how we understand the economy, thereby impacting attitudes and approaches to policy. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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