1st Edition
The Marginal Productivity Theory of Distribution A Critical History
By John Pullen
Copyright 2010
224 Pages
by
Routledge
220 Pages
by
Routledge
224 Pages
by
Routledge
Also available as eBook on:
The Marginal Productivity Theory of Distribution (MPTD) claims that in a free-market economy the demand for a factor of production will depend upon its marginal product – where "marginal product" is defined as the change in total product that is caused by, or that follows, the addition or subtraction of the marginal unit of the factor used in the production process, with all other inputs held... Read more
1. Basic Concepts 2. Forerunners and Founders 3. Followers and Critics: 1900-1920: From Hobson to Adriance 4. Followers and Critics: 1920-1940: From Cassel to Fraser 5. Followers and Critics After 1940: From Kaldor to Blaug 6. Summary of Main Themes 7. Miscellaneous Considerations 8. The Normative Language of the Non-normative MPTD 9. General Conclusion: Neither Normative Nor Positive
Biography
John Pullen was previously Associate Professor in the Department of Business, Economics and Public Policy at the University of New England, Australia, before being appointed as an Honorary Fellow in 2006.
