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Understanding Smith’s theory of distribution: the determination of land rent as a residual magnitude

The objective of this paper is to deepen the understanding of Adam Smith’s theory of distribution and by doing so to unveil his adherence to the hypothesis of a given social product and technique in use determined by labor productivity and past accumulation of capital when determining short term fluctuations of the distributive shares and when discussing taxation.

O Desenvolvimento Economico e a Retomada da Abordagem Clássica do Excedente

In this article we show how an analytical framework based on the classical sur- plus approach can be used to the understanding of some central matters of the eco- nomic development of the nations and of the Brazilian economy in the last decades, in particular. We start discussing the shortcomings of the traditional approach to development economics and the inability of the neoclassical approach to explain some of the more important stylized facts of the development process.