Some Comments after Forty Years of Alternative Distribution Theories

This paper discusses developments in capital theory since the publication of Kaldor's seminal paper Alternative Theories of Distribution. It argues that different approaches simplify issues in different ways and that each of these simplifications is important in developing a coherent and comprehensive theory of capital and distribution. The paper reviews the work of neoclassical authors, post-Keynesians, Hicks and Sraffa and includes comments on the extent to which the theoretical framework can incorporate generalisations such as increasing returns.