ABSTRACT
This chapter compares recent heterodox theories of growth and distribution and classical theories of wages and suggests how the former can usefully employ some elements contained in the latter. It first shows that most heterodox theories, though not all, take distribution to be exogenously given. It then discusses some formalisations of classical and Marxian theories. Next, it briefly examines the views of Smith, Malthus, Ricardo and Marx on wages. Next, it shows how some elements of classical theory are already present in heterodox theories, and some additional elements can be usefully introduced. The chapter concludes with a summary of its main conclusions.
