Nicholas Kaldor (* 12. March 1908 in Budapest; "† 30 September 1986 in Papworth Everard, Cambridgeshire) was a Hungarian economist. It was considered as Keynesianer.

Life

Kaldor was the son of an attorney. To its successful attendance of a High School in Budapest Kaldor went to Berlin, in order to study there. it changed 1927 to London School OF Economics and Political Science.

At the age of 78 years Nicholas Kaldor died 1986 in Cambridge.

Work

The consumer function

Kaldor assumed that the workers would consume a higher part of their income than the subscribers of profit or profit incomes. The consumption depends thus not simply as altogether in simpler keynesianischen models on the income Y, but also on the allocation of the income in Lohneinkommen L and profit income P (English "profit").

            Overall economic income Y: Y = L + P 

whereby L the wages and the P the profits (profits) are.

            Consumption C: C = c_l \ L cdot + c_p \ cdot P whereby c_l > c_p, c_l and c_p  

are the constant consumer inclinations of the wage and profit income subscribers.

Harrod Domar model

In this development model the economy with the satisfying or desired rate grows, if the overall economic rate of saving s is multiplied equal this growth rate g by the Kapitalkoeffizienten v = K/Y given technically with Domar. The Kapitalkoeffizient v indicates, which capital stick K is technically necessary, in order to obtain a certain production Y.

It would be naturally coincidence, if s had straight this value. The consumer function of Kaldor permits now at least theoretically a solution of this problem (whereby other theories suggest other solutions), since by change of the income distribution on wages and profits the overall economic consumer ratio C, which complements itself with the overall economic rate of saving s to 1, can be changed. If the rate of saving is too low, the portion of the profits of the gross income must increased, is too high it, must this portion be decreased.

The technical progress function

A further contribution Kaldors to the growth theory is the function of technical progress, the technical progress function. It places a relationship ago between the rate of growth of the productivity as a function of the rate of growth of the capital intensity. The capital intensity is thereby the capital stick (factories, building etc.) in relation to the number of persons employed.

Works (selection)

• The essential Kaldor. - London: Duckworth, 1989. - ISBN 0-7156-2282-X
• Ways to the prosperity: Economic questi0ns and plans of reconstruction. - Cologne: Staufen Verl., 1948

Literature

• Everything, R.G.D.: Macro Economic Theory: A Mathematical Treatment. - London, Melbourne, Toronto: Macmillan, 1968.
• Peuker, Axel: The theories of the Nicholas lord Kaldor: a contribution to the postkeynesianischen paradigm. - Marburg: Metropolis Verl., 1997. - ISBN 3-89518-039-4
• Targetti, Ferdinando: Nicholas Kaldor: the economics and politics OF capitalism as A dynamic system. - Oxford: Clarendon, 1992. - ISBN 0-19-828348-2

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Articles in category "Nicholas Kaldor"

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