Contending Economic Theories by Wolff Richard D.; Resnick Stephen A.; & Stephen Resnick

Author:Wolff, Richard D.; Resnick, Stephen A.; & Stephen Resnick [Wolff, Richard & Resnick, Stephen]
Language: eng
Format: epub
ISBN: 9780262018005
Publisher: MIT Press
Published: 2012-08-24T00:00:00+00:00

4.8 Class Positions and Individuals’ Incomes

In Marxian theory, with its concern to show how class processes matter in modern societies, considerable attention is directed to individuals’ incomes. Neoclassical theory is mostly interested in the connection between individual income and the marginal productivity of the resources (labor and/or capital) that each individual contributes to production and the decisions of that individual to supply labor and/or capital. Keynesian theory is mostly interested in how individuals divide their incomes between consumption and saving and the impacts of that division on employment and income. By contrast, the aim of Marxian theory is to show the role of class in overdetermining the distribution of incomes among individuals in any society, to explore the interrelation between class processes and income distributions.

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