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Kaldor's growth laws


Kaldor's growth laws are a series of three laws relating to the causation of economic growth.

Looking at the countries of the world now and through time Nicholas Kaldor noted a high correlation between living standards and the share of resources devoted to industrial activity, at least up to some level of income. Only New Zealand, Australia and Canada have become rich whilst relying mainly on agriculture. He proposed three laws on these empirical regularities:

Thirlwall (2003, p123–124) also reports Kaldor's highlighting of three subsidiary propositions which are also important to take into account. They are:


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