Nicholas Kaldor’s Economics: a Review.

Gomes, Luiz (2022): Nicholas Kaldor’s Economics: a Review.

Abstract

Considered one of the leading economists of the 20th century, Nicholas Kaldor contributed to the development of modern economic thought in several fields, from cobweb models to tax issues. Kaldor is recognized worldwide for his work on economic development, the theory of distribution and economic growth. Nicholas Kaldor's concerns were directed at practical problems in economic policy. This work aimed to briefly investigate the contributions of Nicholas Kaldor to economic science. In this paper, we succinctly reviewed Nicholas Kaldor's main works. As Nicholas Kaldor's bibliographic production was quite extensive, some parts had to be highlighted, especially the growth models of theoretical framework I, with full employment, and the economic models of theoretical framework II, without full employment. The article is divided into sections and it has a conclusion.

• Item Type: MPRA Paper
• Language: English
• Keywords: Nicholas Kaldor, Economics, Economic Growth, Theory of Distribution.
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925 > B20 - General

References

Bresser-Pereira, L.C, (1975), “O Modelo de Desenvolvimento de Kaldor.” Revista Brasileira de Economia, 29(2), abril- junho, 1975, pp. 51-67.

Carvalho, F. (1989), “Fundamentos da Escola Pós-Keynesiana: A Teoria De Uma Economia Monetária.” In: “Ensaios sobre Economia Política Moderna: Teoria e Historia do Pensamento Econômico.” Amadeo, E (Org). São Paulo, Marco Zero.

Dasgupta, A. (1986), “Lord Kaldor: An Obituary”, Economic and Political Weekly, Vol. 21, No. 42 (Oct. 18, 1986), p. 1829.

Domar, Evsey D., (1946) “Capital Expansion, Rate of Growth, and Employment.” Econometrica, April.

Feijó, C. & Tostes, M (2010), "Mudança da Estrutura Industrial e Desenvolvimento Econômico: as Lições de Kaldor para a Economia Brasileira", UFF TD 265.

Freitas, F. (2003) “Uma análise crítica do modelo Kaldoriano de crescimento liderado pelas Exportações “, Anais Eletrônicos do XXXI Encontro Nacional de Economia – Anpec, Porto Seguro/Ba, Dezembro.

Hahn, F. & Matthews, R. (1994), "Nicholas Kaldor (Lord Kaldor), 1908-1986", The Economic Journal, Vol. 104, No. 425 (Jul., 1994), pp. 901-902.

Harcourt, G. (1988), "Nicholas Kaldor, 12 May 1908-30 September 1986" - Economica, New Series, Vol. 55, No. 218 (May, 1988), pp. 159-170.

Harcourt, G.C. (1997) ‘The Kaldor Legacy: Reviewing Nicholas Kaldor, Causes of Growth and Stagnation in the World Economy (Cambridge: Cambridge University Press, 1996)”, Journal of International and Comparative Economics, 5, 341-357.

Harrod, R. (1939), “An essay in dynamic theory.” The Economic Journal, Mar. 1939.

Jones, C. e Romer, P., (2010), “The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital”, American Economic Journal: Macroeconomics, 2, issue 1, p. 224-45.

Kaldor, N. (1934a), “A classificatory note on the determinateness of equilibrium.” Review of Economic Studies, 1, 122-36.

Kaldor, N. (1934b), “The equilibrium of the firm.” Economic Journal, 44, 60-76.

Kaldor, N. (1935), “Market imperfection and excess capacity.” Economica, 2, 33-50.

Kaldor, N. (1937), “Annual survey of economic theory: the recent controversy on the theory of capital.” Econometrica, 5, 201-33.

Kaldor, N. (1939a). "Welfare Propositions in Economics and Interpersonal Comparisons of Utility". The Economic Journal, Vol. 49, No. 195.

Kaldor, N. (1939b), “Speculation and economic stability.” Review of Economic Studies, 7, 1-27.

Kaldor, N. (1940), “A model of the trade cycle.” Economic Journal, 50, 78-92.

Kaldor, N. (1955), “An Expenditure Tax”. London: Allen & Unwin, 1955.

Kaldor, N. (1956). “Alternative theories of distribution,” Review of Economic Studies, 23: 83-100.

Kaldor, N. (1957). “A Model of Economic Growth”, The Economic Journal, vol. 67 (268), pg. 591-624.

Kaldor, N. (1958), ‘Monetary policy, economic stability and growth: a Memorandum submitted to the Radcliffe Committee on the Working of the Monetary System’, June 23, Principal Memoranda of Evidence, Cmnd 827, London HMSO (1960).

Kaldor, N. (1960), “Essays on Economic Stability and Growth”, Economic Essays. London: Duckworth.

Kaldor, N. (1966). “Marginal productivity and macro-economic theories of distribution: comment on Samuelson and Modigliani”. Review of Economic Studies, Vol. 33, No. 4 (Oct., 1966), pp. 309-319.

Kaldor, N. (1967). “Strategic Factors in Economic Development”, N. York: W. F. Humphrey Press.

Kaldor, N. (1970), “The New Monetarism,” Lloyds Bank Review. July, pp. 1-17.

Kaldor, N. (1975), "Economic Growth and the Verdoorn Law-A Comment on Mr. Rowthorn's Article," Economic Journal, Royal Economic Society, vol. 85(340), pages 891-96, December.

Kaldor, N. (1978). “Further Essays on Economic Theory,” N. York: Holmes & Meier.

Kaldor, N. (1978). “Introduction”, in Kaldor, N., Further Essays on Economic Theory, N. York: Holmes & Meier.

Kaldor, N. (1978[1958]). “Capital Accumulation and Economic Growth”, in Kaldor, N., Further Essays on Economic Theory, N. York: Holmes & Meier.

Kaldor, N. (1978[1962]). “A New Model of Economic Growth”, in Kaldor, N., Further Essays on Economic Theory, N. York: Holmes & Meier.

Kaldor, N. (1978[1966]). “Causes of the Slow Rate of Economic Growth in the United Kingdom”, in Kaldor, N., Further Essays on Economic Theory, N. York: Holmes & Meier.

Kaldor, N. (1978[1968]). “Productivity and Growth in Manufacturing Industry: a Reply”, in Kaldor, N., Further Essays on Economic Theory, N. York: Holmes & Meier.

Kaldor, N. (1978[1970]). “The Case for Regional Policies”, in Kaldor, N., Further Essays on Economic Theory, N. York: Holmes & Meier.

Kaldor, N. (1978[1971]). “Conflicts in National Economic Objectives”, in Kaldor, N., Further Essays on Economic Theory, N. York: Holmes & Meier.

Kaldor, N. (1978[1974]). “What is Wrong with Economic Theory”, in Kaldor, N., Further Essays on Economic Theory, N. York: Holmes & Meier.

Kaldor, N. (1978[1976]). “Inflation and Recession in The World Economy”, in Kaldor, N., Further Essays on Economic Theory, N. York: Holmes & Meier.

Kaldor, N. (1981), “Fallacies on Monetarism,” Kredit und Kapital, 14 (4), pp. 451–462.

Kaldor, N. (1982). “The Scourge of Monetarism,” Oxford: Oxford University Press.

Kaldor, N. (1985). “Economics Without Equilibrium”. Cardiff: University College of Cardiff Press.

Kaldor, N. (1989a[1981]). “The Role of Increasing Returns, Technical Progress and Cumulative Causation in the Theory of International Trade and Economic Growth”, in Kaldor, N., Further Essays on Economic Theory and Policy, N. York: Holmes & Meier.

Kaldor, N. (1989a[1983a]). “The Role of Effective Demand in the Short Run and the Long Run”, in: Kaldor, N., Further Essays on Economic Theory, N. York: Holmes & Meier.

Kaldor, N. (1989a[1986a]). “Limits on Growth”, in Kaldor, N., Further Essays on Economic Theory, N. York: Holmes & Meier.

Kaldor, N. (1989a[1986b]). “Recollections of an Economist”, in Kaldor, N., Further Essays on Economic Theory, N. York: Holmes & Meier.

Kaldor, N. (1989b[1977]). “Capitalism and Industrial Development: Some Lessons from Britain’s Experience”, in Targetti, F. & Thirlwall, A. P. (eds.), The Essential Kaldor, N. York: Holmes & Meier.

Kaldor, N. (1989b[1979]). “Equilibrium Theory and Growth Theory”, in Targetti, F. & Thirlwall, A. P. (eds.), The Essential Kaldor, N. York: Holmes & Meier.

Kaldor, N. (1996[1984]). “Causes of Growth and Stagnation in the World Economy”. Cambridge: Cambridge University Press, 1996.

Kaldor, N., (1978), “Further Essays on Applied Economics,” Duckworth, London.

Kalecki, M. (1978) "Teoria da dinâmica econômica." São Paulo: Abril.

Keynes, J. M. (1973), The Collected Writings of John Maynard Keynes, Londres, MacMillan e Cambridge, Cambridge University Press.

Keynes, J.M., (1970 [1936]), Teoria Geral do Emprego, do Juro e da Moeda, Rio De Janeiro, Editora Fundo de Cultura.

Macedo e Silva, A. C., (2008), “Estrutura produtiva e especialização comercial: observações sobre a Ásia em desenvolvimento e a América Latina.” Cadernos do Desenvolvimento, v. 5, p. 81-127, 2008.

Mollo, M.L.R., (1997), “A Endogeneidade Pós-Keynesiana da Moeda: Traços Ortodoxos e Heterodoxos.” Estudos Econômicos, v.27, n.3, p. 395-416, set./dez.1997

Oreiro, J. (2005). “Uma Revisão das Controvérsias sobre a Equação de Cambridge”. Nova Economia, vol. 15, nº 2, pp. 119-149.

Oreiro, José Luís (2006), "Economia Pós-Keynesiana: Origem, Programa de Pesquisa, Questões Resolvidas e Desenvolvimentos Futuros," Working Papers 0034, Universidade Federal do Paraná, Department of Economics.

Parikh, A. (1978), ‘Differences in Growth Rates and Kaldor’s Laws’, Economica, 45, 83-91.

Pasinetti, L. (1983). “Nicholas Kaldor: A Few Personal Notes.” Journal of Post Keynesian Economics, Vol. 5, No. 3 (Spring, 1983), pp. 333-340.

Targetti, F. (1992) “Growth at Different Rates and Kaldor’s Laws” in: Targetti, F. (1992), Nicholas Kaldor: The Economics and Politics of Capitalism as a Dynamical System, Oxford University Press, Oxford.

Thirlwall, A. P. (2002). “The nature of economic growth – an alternative framework for understanding the performance of nations.” Cheltenham: Elgar.

Young, A. (1928), “Increasing Returns and Economic Progress”; Economic Journal, XXXVIII, dec. 1928.