Nicholas Kaldor

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Nicholas Kaldor, Baron Kaldor (Budapest, 12 May 1908 - Papworth Everard, Cambridgeshire, 30 September 1986) was one of the foremost Cambridge economists in the post-war period. He developed the famous "compensation" criteria called Kaldor-Hicks efficiency for welfare comparisons (1939), derived the famous cobweb model and argued that there were certain regularities that are observable as far as economic growth is concerned (Kaldor's growth laws)^[1].

Kaldor was educated in Budapest, Berlin, and at the London School of Economics, where he subsequently became a lecturer. After service in World War II, he held a senior post with the Economic Commission for Europe. By 1963, he was also an advisor to Labour governments of the UK and several other countries, producing some of the earliest memoranda regarding the creation of Value added tax. In 1966, he became professor of economics at the University of Cambridge. In 1974, Kaldor was made a life peer as Baron Kaldor, of Newnham in the City of Cambridge.

Contents 1 Works 2 See also 3 External links 4 Notes

[edit] Works

• The Case Against Technical Progress, 1932, Economica
• The Determinateness of Static Equilibrium, 1934, RES
• The Equilibrium of the Firm, 1934, EJ
• Market Imperfection and Excess Capacity, 1935, Economica
• Pigou on Money Wages in Relation to Unemployment, 1937, EJ
• 1939, Welfare propositions of economics and interpersonal comparisons of utility. Economic Journal 49:549–52.
• Speculation and Economic Stability, 1939, RES
• Capital Intensity and the Trade Cycle, 1939, Economica
• A Model of the Trade Cycle, 1940, EJ
• Professor Hayek and the Concertina Effect, 1942, Economica
• The Relation of Economic Growth and Cyclical Fluctuations, 1954 EJ
• An Expenditure Tax, 1955.
• Alternative Theories of Distribution, 1956, RES
• A Model of Economic Growth, 1957, EJ
• Monetary Policy, Economic Stability, and Growth, 1958.
• Economic Growth and the Problem of Inflation, 1959, Economica.
• A Rejoinder to Mr. Atsumi and Professor Tobin, 1960, RES
• Keynes's Theory of the Own-Rates of Interest, 1960, in Kaldor, 1960.
• Essays on Value and Distribution, 1960.
• Essays on Economic Stability and Growth, 1960.
• Capital Accumulation and Economic Growth, 1961, in Lutz, editor, Theory of Capital
• A New Model of Economic Growth, with James A. Mirrlees, 1962, RES
• The Case for a Commodity Reserve Currency, with A.G. Hart and J. Tinbergen, 1964, UNCTAD
• Essays on Economic Policy, 1964, two volumes.
• Causes of the Slow Rate of Economic Growth in the UK, 1966.
• The Case for Regional Policies, 1970, Scottish JE.
• The New Monetarism, 1970, Lloyds Bank Review
• Conflicts in National Economic Objectives, 1970, EJ
• The Irrelevance of Equilibrium Economics, 1972, EJ
• What is Wrong with Economic Theory, 1975, QJE
• Inflation and Recession in the World Economy, 1976, EJ
• Equilibrium Theory and Growth Theory, 1977, in Boskin, editor, Economics and Human Welfare.
• Capitalism and Industrial Development, 1977, Cambridge JE
• Further Essays on Economic Theory, 1978.
• The Role of Increasing Returns, Technical Progress and Cumulative Causation..., 1981, Economie Appliquee
• Fallacies on Monetarism, 1981, Kredit und Kapital.
• The Scourge of Monetarism, 1982.
• The Role of Commodity Prices in Economic Recovery, 1983, Lloyds Bank Review
• Keynesian Economics After Fifty Years, 1983, in Trevithick and Worswick, editors, Keynes and the Modern World
• Economics Without Equilibrium, 1985.

[edit] See also

• Kaldor's facts
• technical progress function

[edit] External links

The Scourge of Monetarism (1982)

Biography

Kaldor Business Cycle Model by Elmer G. Wiens

[edit] Notes

Anthony P Thirlwall, "Nicholas Kaldor", NY: New York University Press, 1987.

Memorandum on the value added tax, Labour NEC archives, 1963