Capital and Distribution

Master seminar

An organisational meeting and introduction to the topic takes place on 11. April 2022, 6 p.m.

The seminar will take place from 01.07.2022 - 05.07.2022 in Hirschegg (Kleinwalsertal, Austria).
-- assuming it will be possible to meet in person and to travel --
-- alternatively the seminar will be conducted by video conference --

Remark: There is no additional selection process. Please just register via QIS and hand in the registration form to Johanna Kleensang.



Registration with the Examination Office

Deadline for Exam Registration and Withdrawal: 07 April 2022 – 20 April 2022
Exam registration and withdrawal takes place via QIS: My Functions > Administration of exams (Instruction)
For exchange students, exam registration and withdrawal is not possible via QIS. Exchange students register or withdraw with a form within the deadline. Forms and information are available at the Website of the Faculty's International Office.


Registration with the chair


The number of beds available at the University house is limited to 15. To secure yourself a place in the house you have to register at the chair by submitting the signed registration form until the 20th of April 2022 to Johanna Kleensang ( 
Your decision on the preferred topics can be added after the introduction and elaboration at the organisational meeting. 
Please hand the document as a signed PDF.
Should you not be able to attend the organisational meeting and/or are not sure about the preferred topics, they can be added after the a discussion with the teaching assistant.
The registration form is available on our website and in OLAT.

Remark: The registration form just ensures that you have a bed to sleep in, are paying the costs and supplies us with all information we need.


Deadline for term paper:   26.06.2022, 6 p.m.
Deadline for presentation and handout:   28.06.2022, 9 a.m.

You will find some instructions for your term paper HERE.


The theory of capital is connected with distribution theory in several ways. The value of capital depends on the level of distribution between profits and wages in a manner complicated in the general case, but needs to be simple and special, if the neoclassical theory of distribution is to hold. This connection leads to the critique of capital theory, which was the subject of hot debates in the 1960s and 70s and which has taken a new turn recently. At a less abstract level, all theories of distribution must be developed in the context of capital accumulation, which depends primarily on the rate of investment according to Keynesian theory, but also on savings behaviour. The seminar will address these theoretical issues. Moreover, several papers will examine the change of distribution relationships over time empirically, and in particular the increasing concentration of wealth.



General reading list

  •  (will follow)

General literature

  • Blaug, M. (1999). Economic Theory in Retrospect (5th ed.). Cambridge: Cambridge University Press.
  • Dobb, M. (1973). Theories of Value and Distribution since Adam Smith. Cambridge: Cambridge University Press.
  • Foley, D. K., & Michl, T. R. (1999). Growth and Distribution. Cambridge Mass.: Harvard University Press.
  • Garegnani, P. (1984). Value and Distribution in the Classical Economists and Marx. Oxford Economic Papers, 36, pp. 291–325.
  • Petri, F. (2021). Microeconomics for the Critical Mind. Mainstream and Heterodox Analyses. Cham: Springer. 
  • Roncaglia, A. (2005). The wealth of ideas: a history of economic thought. Cambridge: Univ. Press.
  • Schefold, B. (1997). Normal Prices, Technical Change and Accumulation. London: MacMillan.
  • Shaikh, A. (2016). Capitalism - Competition, Conflict, Crises. Oxford: Univ. Press.

  Literature by topic (tba)


  • 60% term paper
  • 40% presentation & participation

Each partial requirement needs to be passed with a grade of 4.0 or better.

Formal requirements

  • A term paper consists of a title page, a table of contents, numbered pages of text and a list of references. All together this should be no less than 15 pages and no more than 20 pages of text.
  • There should be a page margin of 2,5 cm to allow notes and a line spacing of 1,5. Please be advised to use a font size of 12 with fonts such as Arial or Times New Roman.
  • You should base your argumentation on relevant literature, which has to be quoted as explicit as possible (correct and full reference and page, if applicable).
  • You will be required to present the results of your seminar paper at the block week in Riezlern. Please discuss the main focus of your talk with your supervisor.