Value and Distribution : An Historical, Critical, and Constructive Study in Economic Theory; Adapted for Advanced and Post-Graduate Work (Classic Reprint)

A deep, historical critique of how value is created and distributed in capitalist economies. This work revisits long‑standing theories and offers a constructive approach for advanced study.

The text explores how surplus is generated and divided among four factors—land, labor, capital, and entrepreneur—and how three forms of surplus—rent, profit, and the normal gains of capital and labor—shape economic outcomes. It also examines the role of time in production and the way ordinary theories handle the exchange between present and future goods. Readers will encounter comparisons of different viewpoints, including critiques of earlier productivity theories and a framework for understanding wages and interest that fits a progressing society.

What you’ll experience
- A clear, century‑spanning discussion of surplus and how it arises across production, distribution, and time.
- A detailed look at the Normal Value Theory of Interest and the Normal Value Theory of Wages.
- Connections between orthodox economics, historical critiques, and constructive proposals for teaching advanced students.

Ideal for readers of graduate economics, history of economic thought, and those studying value and distribution in depth.