An Essay on Money and Distribution

by Massimo Pivetti, Kenneth A. Loparo

Overview

The book develops an explanation of distribution between profits and wages, which is both logically coherent and supported by reality. It is centred upon a concept of the money rate of interest as the variable that governs the normal profitability of capital.

Product Details

ISBN-13:	9780333539408
Publisher:	Palgrave Macmillan UK
Publication date:	05/24/1991
Series:	Studies in Political Economy
Edition description:	1991
Pages:	148
Product dimensions:	5.51(w) x 8.50(h) x (d)

Table of Contents

PART 1: ON THE 'MONETARY' EXPLANATION OF DISTRIBUTION - Introduction - The Rate of Interest as a 'Monetary Phenomenon' - The Rate of Interest as the Regulator of the Ratio of Prices to Money Wages - Wage Bargaining, Distribution and the Price Level - The Rate of Interest and the Inducement to Invest - Nominal and Real Rates of Interest - PART 2: ON THE INTEREST-PROFIT CONNECTION IN ECONOMIC THEORY - Interest and Profit in Smith, Ricardo and Marx - Interest, Prices and the Quantity of Money: Thomas Tooke and His Main Critic - Money and Distribution in the Marginal Method - On the Explanation of Distribution in Terms of the 'Forces of Competition' - Money Interest and 'Full Cost' Pricing - Summary and Concluding Observations - Bibliography - Index