ABSTRACT
The completion of the marginal productivity theory of distribution was achieved only with the development of the proof that if all productive agents are rewarded in accord with their marginal products, then the total product will be exactly exhausted. Before turning to Philip H. Wicksteed, it may be in order to note one of the earliest mathematical formulations of the marginal productivity theory, that of Arthur Berry. The fundamental concept of product for purposes of distribution theory is "commercial product," or the "amount of industrial vantage that command of that product confers on its possessor." Euler's theorem holds rigorously only if the price of the commodity remains constant. A. W. Flux's review of the Co-ordination is in some respects a genuine improvement over Wicksteed's original statement. Sidney J. Chapman presents a most elegant diagrammatic proof that the residual share is equal to the marginal product of the factor receiving the residual.
