This volume covers a wide range of topics in the theory of capital, distribution and effective demand. It brings together and develops the critical traditions in economic theory associated with the works of Sraffa, Keynes and Kalecki. Themes discussed include recent controversies in the theory of capital; the determination of output as a whole and employment in the short and long term; the utilization and growth of productive capacities; the distribution of income between wages, profits and rent; and the impact of technical change on the performance of the economic system. This book combines an interest in the history of economic thought with a concern for the development of a non-neoclassical approach to the theory of accumulation, effective demand and distribution.