ABSTRACT

Geoff Harcourt as an economist has spent much of his life thinking about, and teaching us about, macroeconomics; Geoff as a citizen has been much concerned about the personal distribution of incomes. The subject of this chapter is the relation between these two subjects – or, more accurately, the lack of relation. I must confess to being puzzled, as an outsider to macroeconomics, as to why the factor distribution of income has ceased to be central to macroeconomics, and why there has ceased to be any direct connection between modern macroeconomics and my own particular field of interest – the distribution of personal income.