ABSTRACT

In this paper I shall endeavour to outline an approach to income distribution along post-Keynesian lines. Realistic appraisal of income distribution implies taking into account the different mechanisms in operation in a market economy which concur in determining the path followed over time by distributive variables. Attention will be paid to the various playing fields in which income distribution is determined, including bargaining over money wages between unions and employers, pricing decisions on the part of firms commonly operating in oligopolistic markets, the monetary behaviour of the policymakers, and so on. In doing so I shall utilize material drawn from previous writings on the topic (Roncaglia, 1991, 1993, 1994, 2009, Chapter 8, and particularly 2010).