ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Income Distribution in Economics

December 15, 1979 there may be between the classical and the neo-classical approaches to economic theory, the "basic puzzle" (as our author calls it) remains Production rather than Distribution. Ranadive laments, as did Edwin Can- nan long ago, the systematic neglect of the problem of "personal distribution" by our economists. A true theory of distribution, she argues, should be seen comprehensively, so as to cover the problem of inequality of incomes. Now, there have been empirical studies concerning the latter, and of late there have been attempts at a measure of inequality also. Our author offers a faithful account of these attempts. The so-called empirical law of constancy in factor shares comes in for critical examination. Our author's attitude to the finding is somewhat sceptical, even though she attaches importance to these studies; THIS is a scholarly piece of work. The author, K R Ranadive, traces the history of the theory of distribution since Adam Smith's "Wealth of Nations". In the process she traverses almost the whole field of economic theory. Rightly; for distribution is integrally associated with the other branches of economic theory. The author does not claim originality. Yet, going through the survey which she presents, one would be surely impressed by the skill and erudition with which she has offered to her readers an overall view of the comp- , issues that surround the problem of income distribution.

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