Edited by Robert W. Dimand and Harald Hagemann
Chapter 76: Nicholas Kaldor
Nicholas Kaldor (1908–1986) was Hungarian, and a student and teacher at the London School of Economics (LSE) from 1927 to 1947. He was one of the first academics at the LSE to be converted to Keynesian economics. When Kaldor was appointed to Cambridge in 1949, he took on the mantle shed by Keynes, and was one of the foremost post-Keynesian economists, along with Joan Robinson, Richard Kahn and Luigi Pasinetti, who became joint architects of post-Keynesian growth and distribution theory in strong opposition to neoclassical theory. Kaldor was also involved in many other areas of economics. He pioneered the structural approach to growth; he became one of the world’s leading tax experts; he led a worldwide the attack on the doctrine of monetarism; he was a fierce critic of general equilibrium theory, and, above all, he never lost faith in the basic Keynesian messages of how capitalist economies function in the real world.
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