ABSTRACT
The traditional "theory of distribution" is concerned exclusively wi th the pricing of factors of production-the distribution of income among co operating resources classified by their productive function. I t has li t t le to say about the distribution of income among the individual members of the society, and there is no corresponding body of theory that does. This absence of a satisfactory theory of the personal distribution of income and of a theoretical bridge connecting the functional distribution of income wi th the personal distribution is a major gap in modern economic theory.
