Nicholas Kaldor
| The Lord Kaldor | |
|---|---|
 |
|
| Born |
12 May 1908 Budapest, Hungary |
| Died | 30 September 1986 (aged 78) Papworth Everard, Cambridgeshire, England |
| Nationality | Great Britain |
| Field | Political economy |
| School or tradition |
Post-Keynesian economics |
| Doctoral advisor |
Allyn Abbott Young Lionel Robbins |
| Doctoral students |
Frank Hahn |
| Influences | John Maynard Keynes, Gunnar Myrdal |
| Influenced | Joan Robinson, Tony Thirlwall, Manmohan Singh, Daniele Archibugi, Ha-Joon Chang |
| Contributions |
Kaldor–Hicks efficiency Kaldor's growth laws Circular Cumulative Causation |
Nicholas Kaldor, Baron Kaldor (12 May 1908 – 30 September 1986), born Káldor Miklós, was a Cambridge economist in the post-war period. He developed the "compensation" criteria called Kaldor–Hicks efficiency for welfare comparisons (1939), derived the cobweb model, and argued for certain regularities observable in economic growth, which are called Kaldor's growth laws. Kaldor worked alongside Gunnar Myrdal to develop the key concept Circular Cumulative Causation, a multicausal approach where the core variables and their linkages are delineated. Both Myrdal and Kaldor examine circular relationships, where the interdependencies between factors are relatively strong, and where variables interlink in the determination of major processes. Gunnar Myrdal got the concept from Knut Wicksell and developed it alongside Nicholas Kaldor when they worked together at the United Nations Economic Commission for Europe. Myrdal concentrated on the social provisioning aspect of development, while Kaldor concentrated on demand-supply relationships to the manufacturing sector. Kaldor also coined the term "convenience yield" related to commodity markets and the so-called theory of storage, which was initially developed by Holbrook Working.
He was born Káldor Miklós in Budapest, and was educated there, as well as in Berlin, and at the London School of Economics, where he subsequently became an assistant lecturer and then, by 1938, a lecturer. Between 1943 and 1945 Kaldor worked for the National Institute of Economic and Social Research and in 1947 he resigned from the LSE to become Director of Research and Planning at the Economic Commission for Europe. He was elected to a Fellowship at King's College, Cambridge and offered a lectureship in the Economics Faculty of the University in 1949. He became a Reader in Economics in 1952, and Professor in 1966.
...
Wikipedia