Abstract
Classical distribution theories distinguish between that part of the annual product which is necessary for its reproduction (including necessary subsistence for workers and replacement of the means of production) and the remainder (the ‘surplus’), and seek to explain the size of the surplus and its distribution among classes. They do not view the real wage rate and the rate of profit as determined by the relative scarcity of labour and capital; rather, one of the two distributive variables is explained independently from both the social product and the other distributive variable, and the other is determined as a residual.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Similar content being viewed by others
Bibliography
Cairnes, J.E. 1874. Some leading principles of political economy newly expounded. New York: Harper & Brothers.
Cannan, E. 1917. A history of the theories of production and distribution in English political economy from 1776 to 1848. 3rd ed. London: King.
Garegnani, P. 1984. Value and distribution in the classical economists and Marx. Oxford Economic Papers 36: 291–325.
Malthus, T.R. 1827. Definitions in political economy, preceded by an inquiry into the rules that ought to guide political economists in the definition and use of their terms; with remarks on the deviations from these rules in their writings. Reprinted. New York: Kelley, 1971.
Marx, K. 1862–63. Theories of Surplus Value, vols 1–3. Moscow: Progress Publishers, 1963–71.
Marx, K. 1873. Afterword to the 2nd German edition of Capital. In Marx (1883).
Marx, K. 1883. Capital: A critique of political economy, vol. 1. 3rd edn, 1977, reprinted. London: Lawrence & Wishart.
Marx, K. 1894. Capital: A critique of political economy, vol. 3, 1977. London: Lawrence & Wishart.
Mill, J. 1844. Elements of political economy. 3rd ed, 1965. New York: Kelley.
Mill, J.S. 1848. Principles of political economy with some of their applications to social philosophy. Toronto/London: University of Toronto Press/Routledge & Kegan Paul, 1965.
Pivetti, M. 1985. On the monetary explanation of distribution. Political Economy – Studies in the Surplus Approach 1 (2): 73–103.
Ricardo, D. 1821. Principles of political economy and taxation. In The works and correspondence of David Ricardo, ed. P. Sraffa, vol. 1, 3rd edn. Cambridge: Cambridge University Press, 1951.
Smith, A. 1776. An inquiry into the nature and causes of the wealth of nations, ed. E. Cannan. London: Methuen, 1961.
Sraffa, P. 1951. Introduction to Ricardo’s Principles. In Collected works of David Ricardo, vol. 1. Cambridge: Cambridge University Press.
Sraffa, P. 1960. Production of commodities by means of commodities. Cambridge: Cambridge University Press.
Torrens, R. 1815. An essay on the external corn trade. London: Hatchard.
Torrens, R. 1821. An essay on the production of wealth. With an appendix in which the principles of political economy are applied to the actual circumstances of this Country. Reprinted. New York: Kelley, 1965.
Author information
Authors and Affiliations
Editor information
Copyright information
© 2018 Macmillan Publishers Ltd.
About this entry
Cite this entry
Pivetti, M. (2018). Classical Distribution Theories. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_21
Download citation
DOI: https://doi.org/10.1057/978-1-349-95189-5_21
Published:
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-95188-8
Online ISBN: 978-1-349-95189-5
eBook Packages: Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences