Page 335 - DECO401_MICROECONOMIC_THEORY_ENGLISH

Microeconomic Theory Pavitar Parkash Singh, Lovely Professional University

Notes
Unit-21: Macro Theories of Ricardo, Marx and Kailki

CONTENTS

Objectives
Introduction

21.1 Kolder’s Total Revenue Distribution Theory

21.2 Revenue Distribution’s New Prominent Theory
21.3 Kailki’s Distribution Theory

21.4 Vintrob’s Theory
21.5 Summary

21.6 Keywords
21.7 Review Questions

21.8 Further Readings

Objectives

After studying this unit, the students will be able to:
• Understand Kolder’s total Revenue distribution theory.

• Discuss Revenue Distribution’s New Prominent Theory.
• Explain Kailki’s distribution theory.
• Know Vintrob’s theory.

Introduction

Many economists have given their own in relation to distribution of revenue after Ricardo. These
economists established marginal production as the base of distribution. New prominent economists
have not established a prompt theory for collective distribution.

21.1 Kolder’s Total Revenue Distribution Theory

Prof. Kolder established himself a theory of total distribution of income in which he used Kensian
apparatus so he called it as “Kensian Theory.” According to him, the total income is earned by both
– labour and owner. The returns of first group is called ‘wages’ and second group is called ‘profit.’ In
wages, salary and bonus are counted and in profit, interest and revenue are counted.

328 LOVELY PROFESSIONAL UNIVERSITY