The Distribution of Income

UTIP Working Paper No. 2

22 Pages Posted: 14 Jun 2000

See all articles by James K. Galbraith

James K. Galbraith

University of Texas at Austin - Lyndon B. Johnson School of Public Affairs; Levy Economics Institute of Bard College

Date Written: November 1998


Inequality has become perhaps the foremost preoccupation of modern empirical economics. Yet the conventional theoretical explanations of changing inequality rest on premises long ago demolished on logical grounds. This paper summarizes a Keynesian theory of income distribution. The theory integrates macroeconomic and distributive phenomena and so accounts for the empirical relationship between the changing shape of the distribution and major macroeconomic events.

JEL Classification: E29

Suggested Citation

Galbraith, James K., The Distribution of Income (November 1998). UTIP Working Paper No. 2. Available at SSRN: or

James K. Galbraith (Contact Author)

University of Texas at Austin - Lyndon B. Johnson School of Public Affairs ( email )

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Austin, TX 78713
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512-471-1244 (Phone)

Levy Economics Institute of Bard College

Annandale-on-Hudson, NY 12504
United States
845-758-7700 (Phone)
845-758-1149 (Fax)

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