Measuring labor's Share

摘要

Labor's share of national income has been a topic of enduring interest to economists since the work of David Ricardo (1821)j and other classical economists. Both neoclassical and Marxian theories of income distribution focus On labor's share. And the empirical determi- Nation of factor shares was the proximate Cause for the founding of the National Bureau Of Economic Research (Nahum Stone, 1945). This paper considers issues that arise in mea- Suring the fraction of national income accruing To labor and provides alternative concepts and Data to the standard Bureau of Economic Anal- Ysis (BEA) series.