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Encyclopedia > Distribution (economics)

Distribution in economics is the way total output and income from it is distributed among individuals and among factors of production (such as between labor and capital) (Samuelson and Nordhaus, 2001, p. 762). In general theory total output and total income are duals, inseparably bound. So are they bound in their operational counterparts, the national income and product accounts, which represent that each unit of output corresponds to a unit of income, whether expressed in real or nominal terms. One use of national accounts is for describing 'income distribution'. But, where focus is on income of persons or households, rather than on returns to different factors of production in their relation to total output, other data sources or adjustments to the national accounts are frequently used. Face-to-face trading interactions on the New York Stock Exchange trading floor Economics is the social science that studies the production, distribution, and consumption of valuable goods and services. ... Factors of production are resources used in the production of goods and services in economics. ... به خاطر اعمال تخریبی یک کاربر مشخص AOL، ویکی‌پدیا معمولاً proxyهای AOL را می‌بندد. متأسفانه ممکن است تعداد زیادی از کاربران AOL از یک خادم proxy واحد استفاده کنند، و در نتیجه کاربران بی‌تقصیر AOL معمولاً ندانسته بسته می‌شوند. از دردسر ایجاد شده عذر می‌خواهیم. اگر این اتفاق برای شما افتاد، لطفاً به یکی از مدیران از یک نشانی پست الکترونیک AOL پیغام بفرستید. حتماً نشانی IPی را در فوق داده شده ذکر کنید. بازگشت به صفحهٔ اصلی. گرفته شده از «http://fa. ... In mathematics, duality has numerous meanings. ... National Income and Product Accounts (NIPA) use double entry accounting to report the monetary value and sources of output produced in a country and the distribution of incomes that production generates. ... A mathematical problem is a problem that can be solved with the help of mathematics. ... Nominal value is the value of anything expressed in money of the day, versus real value which removes the effect of inflation. ... This graphic shows the distribution of gross annual household income. ...


In theoretical welfare economics, a level of feasible output possibilities is standardly distinguished from the distribution of income for those output possibilities. Both can describe elements of positive economics. But in the formal theory of social welfare, rules for selection from feasible distributions of income are a way of representing pure normative economics at a high level of generality. Welfare economics is a branch of economics that uses microeconomic techniques to simultaneously determine the allocational efficiency of a macroeconomy and the income distribution consequences associated with it. ... In economics, the production possibility frontier (the PPF, also called the production possibilities curve (PPC) or the “transformation curve”) is a graph that depicts the trade-off between any two items produced. ... Welfare economics is a branch of economics that uses microeconomic techniques to simultaneously determine the allocational efficiency of a macroeconomy and the income distribution consequences associated with it. ... This page is a candidate to be moved to Wiktionary. ... Positive economics, value-free economics or wertfrei economics (from the German wertfrei, meaning value-free) is the part of economics that focuses on facts and cause-and-effect relationships. ... A social welfare function, in welfare economics, is a function which gives a measure of the material welfare of society, given a number of economic variables as inputs. ... A social welfare function, in welfare economics, is a function which gives a measure of the material welfare of society, given a number of economic variables as inputs. ... Normative economics is the branch of economics that incorporates value judgments about what the economy should be like or what particular policy actions should be recommended to achieve a desirable goal. ...

Contents

Neoclassical distribution theory

In neoclassical economics, the supply of and the demand for each factor of production interact in factor markets to determine equilibrium output, income, and the income distribution. Factor demand in turn incorporates the marginal-productivity relationship of that factor in the output market. John R. Hicks's The Theory of Wages (1963) remains a standard neoclassical statement of what determines real wages among labor markets. Neoclassical economics refers to a general approach (a metatheory) to economics based on supply and demand which depends on individuals (or any economic agent) operating rationally, each seeking to maximize their individual utility or profit by making choices based on available information. ... In microeconomics, production is the act of making things, in particular the act of making products that will be traded or sold commercially. ... For other persons named John Hicks, see John Hicks (disambiguation). ... The term real wages refer to wages that have been adjusted for inflation. ...


The neoclassical growth model provides an account of how distribution of income between capital and labor are determined in competitive markets at the macroeconomic level over time with technological change and changes in the size of the capital stock and labor force. More recent developments of the distinction between human capital and physical capital and between social capital and personal capital have deepened analysis of distribution. Macroeconomics is the study of the entire economy in terms of the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices. ... Growth accounting is a set of theories used in economics to explain economic growth. ... Human capital is a way of defining and categorizing peoples skills and abilities as used in employment and as they otherwise contribute to the economy. ... به خاطر اعمال تخریبی یک کاربر مشخص AOL، ویکی‌پدیا معمولاً proxyهای AOL را می‌بندد. متأسفانه ممکن است تعداد زیادی از کاربران AOL از یک خادم proxy واحد استفاده کنند، و در نتیجه کاربران بی‌تقصیر AOL معمولاً ندانسته بسته می‌شوند. از دردسر ایجاد شده عذر می‌خواهیم. اگر این اتفاق برای شما افتاد، لطفاً به یکی از مدیران از یک نشانی پست الکترونیک AOL پیغام بفرستید. حتماً نشانی IPی را در فوق داده شده ذکر کنید. بازگشت به صفحهٔ اصلی. گرفته شده از «http://fa. ... Social capital is defined as the value that is created through the application of social networks during non-organizational time. ...


See also

This graphic shows the distribution of gross annual household income. ... Differences in national income equality around the world as measured by the national Gini coefficient. ... Graphical representation of the Gini coefficient The Gini coefficient is a measure of inequality of a distribution, defined as the ratio of area between the Lorenz curve of the distribution and, to the area under the uniform distribution. ... The Lorenz curve is a graphical representation of the cumulative distribution function of a probability distribution; it is a graph showing the proportion of the distribution assumed by the bottom y% of the values. ... Income, generally defined, is the money that is received as a result of the normal business activities of an individual or a business. ... Wealth from the old English word weal, which means well-being or welfare. The term was originally an adjective to describe the possession of such qualities. ... A social welfare function, in welfare economics, is a function which gives a measure of the material welfare of society, given a number of economic variables as inputs. ...

Classical distribution theory

Classical economics is widely regarded as the first modern school of economic thought. ...

Marxian distribution theory

Note: Marxian is not restricted to Marxian economics, as it includes those inspired by Marxs works who do not identify with Marxism as a political ideology. ... The value product (VP) is an economic concept formulated by Karl Marx in his critique of political economy during the 1860s, and used in Marxian social accounting theory for capitalist economies. ...

Neoclassical distribution theory

Construction workers generally work long hours for their pay Labour economics seeks to understand the functioning of the market and dynamics for labour. ... In microeconomics, a production function expresses the relationship between an organizations inputs and its outputs. ... In microeconomics, production is the act of making things, in particular the act of making products that will be traded or sold commercially. ... In microeconomics, Production is simply the conversion of inputs into outputs. ...

References

  • George J. Stigler (1941). Production and Distribution Theories. Macmillan.
  • John R. Hicks (1932, 2nd ed., 1963). The Theory of Wages. London, Macmillan.
  • Paul A. Samuelson and William D. Nordhaus (2001). Economics, 17th ed., McGraw-Hill.
  • Philip H. Wicksteed (1914). “The Scope and Method of Political Economy in the Light of the ‘Marginal’ Theory of Value and Distribution," Economic Journal, 24(94), pp. 1-23.

The following are some Distribution entries from The New Palgrave: A Dictionary of Economics (1987): George Joseph Stigler (1911 - 1991) was a U.S. economist. ... Paul Samuelson (born May 15, 1915) is an American economist known for his work in many fields of economics. ... Philip Wicksteed (October 25, 1844 - March 18, 1927) was an English economist closely associated with the Austrian School. ...

  • "distribution, law of," v. 1, pp. 869-72, by J.B. Clark [1926].
  • "distribution theories, classical," v. 1, pp. 872-876, by Luigi Pasinetti.
  • "distribution theories, Keynesian," v. 1, pp. 876-78, by Mauro Baranzini.
  • "distribution theories, Marxian," v. 1, pp. 878-883, by David M. Gordon.
  • "distribution theories, neoclassical," v. 1, pp. 883-886, by Christopher Bliss.
  • "imputation," v. 2, pp. 838-39, by Murray N. Rothbard.
  • "inequality between persons," v. 2, pp. 821-24, by Anthony F. Shorrocks.
  • "interest and profit," v. 2, pp. 877-79, by Carlo Panico.
  • "marginal productivity theory," v. 3, pp. 323-25, by Robert F. Dorfman.
  • "profit and profit theory," v. 3, pp. 1014-21, by Meghnad Desai.
  • "wages, real and money," v. 4, pp. 840-42, by Henry Phelps Brown.

 
 

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