Nicholas Kaldor, Baron Kaldor (Budapest, 12 May 1908 - Papworth Everard, Cambridgeshire, 30 September 1986) was one of the foremost Cambridge economists in the post-war period. He developed the famous "compensation" criteria called Kaldor-Hicks efficiency for welfare comparisons (1939). Flag Seal Nickname: Paris of the East, Pearl of the Danubeor Queen of the Danube Location Location of Budapest in Hungary Government Country   County Hungary / E.U.   none Mayor Gábor Demszky (SZDSZ) Geographical characteristics Area     City 525,16 km²     Land   n/a km²     Water   n/a km² Population... May 12 is the 132nd day of the year in the Gregorian Calendar (133rd in leap years). ... 1908 (MCMVIII) was a leap year starting on Wednesday (link will take you to calendar). ... Cambridgeshire (abbreviated Cambs) is a county in England, bordering Lincolnshire to the north, Norfolk to the northeast, Suffolk to the east, Essex and Hertfordshire to the south, and Bedfordshire and Northamptonshire to the west. ... September 30 is the 273rd day of the year (274th in leap years) in the Gregorian calendar, with 92 days remaining. ... 1986 (MCMLXXXVI) was a common year starting on Wednesday of the Gregorian calendar. ... Kaldor-Hicks efficiency is a type of economic efficiency that occurs only if the economic value of social resources is maximized. ...

Kaldor was educated in Budapest and at the London School of Economics, where he subsequently became a lecturer. After service in World War II, he held a senior post with the Economic Commission for Europe. In 1966, he became professor of economics at the University of Cambridge. He was also an advisor to Labour governments of the UK and several other countries. In 1974, Kaldor was made a life peer as Baron Kaldor of Newnham in the City of Cambridge. The London School of Economics and Political Science, often referred to as the London School of Economics or simply the LSE, is a specialist university and a constituent college of the federal University of London, located on Houghton Street in Central London, off the Aldwych and next to the Royal... Combatants Allies: Soviet Union, United Kingdom, France/Free France, United States, China, Canada, India, Australia, Poland, New Zealand, South Africa, Greece, and others Axis Powers: Germany, Italy, Japan, Bulgaria, Finland, Romania, Hungary, Burma, Slovakia Casualties Military dead: 17 million Civilian dead: 33 million Total dead: 50 million Military dead: 8... The United Nations Economic Commission for Europe (UNECE or ECE) was established in 1947 to encourage economic cooperation among its member states. ... 1966 (MCMLXVI) was a common year starting on Saturday (the link is to a full 1966 calendar). ... Buyers bargain for good prices while sellers put forth their best front in Chichicastenango Market, Guatemala. ... The University of Cambridge (often called Cambridge University, or just Cambridge), located in Cambridge, England, is the second-oldest university in the English-speaking world. ... The Labour Party has, since the early twentieth century, been the principal left wing political party in the United Kingdom (see British politics). ... 1974 (MCMLXXIV) was a common year starting on Tuesday (the link is to a full 1974 calendar). ... In the United Kingdom, Life Peers are appointed members of the Peerage whose titles may not be inherited (those whose titles are inheritable are known as hereditary peers). ...

Works

• The Case Against Technical Progress, 1932, Economica
• The Determinateness of Static Equilibrium, 1934, RES
• The Equilibrium of the Firm, 1934, EJ
• Market Imperfection and Excess Capacity, 1935, Economica
• Pigou on Money Wages in Relation to Unemployment, 1937, EJ
• Welfare Propositions in Economics, 1939, EJ
• Speculation and Economic Stability, 1939, RES
• Capital Intensity and the Trade Cycle, 1939, Economica
• A Model of the Trade Cycle, 1940, EJ
• Professor Hayek and the Concertina Effect, 1942, Economica
• The Relation of Economic Growth and Cyclical Fluctuations, 1954 EJ
• An Expenditure Tax, 1955.
• Alternative Theories of Distribution, 1956, RES
• A Model of Economic Growth, 1957, EJ
• Monetary Policy, Economic Stability, and Growth, 1958.
• Economic Growth and the Problem of Inflation, 1959, Economica.
• A Rejoinder to Mr. Atsumi and Professor Tobin, 1960, RES
• Keynes's Theory of the Own-Rates of Interest, 1960, in Kaldor, 1960.
• Essays on Value and Distribution, 1960.
• Essays on Economic Stability and Growth, 1960.
• Capital Accumulation and Economic Growth, 1961, in Lutz, editor, Theory of Capital
• A New Model of Economic Growth, with James A. Mirrlees, 1962, RES
• The Case for a Commodity Reserve Currency, with A.G. Hart and J. Tinbergen, 1964, UNCTAD
• Essays on Economic Policy, 1964, two volumes.
• Causes of the Slow Rate of Economic Growth in the UK, 1966.
• The Case for Regional Policies, 1970, Scottish JE.
• The New Monetarism, 1970, Lloyds Bank Review
• Conflicts in National Economic Objectives, 1970, EJ
• The Irrelevance of Equilibrium Economics, 1972, EJ
• What is Wrong with Economic Theory, 1975, QJE
• Inflation and Recession in the World Economy, 1976, EJ
• Equilibrium Theory and Growth Theory, 1977, in Boskin, editor, Economics and Human Welfare.
• Capitalism and Industrial Development, 1977, Cambridge JE
• Further Essays on Economic Theory, 1978.
• The Role of Increasing Returns, Technical Progress and Cumulative Causation..., 1981, Economie Appliquee
• Fallacies on Monetarism, 1981, Kredit und Kapital.
• The Scourge of Monetarism, 1982.
• The Role of Commodity Prices in Economic Recovery, 1983, Lloyds Bank Review
• Keynesian Economics After Fifty Years, 1983, in Trevithick and Worswick, editors, Keynes and the Modern World
• Economics Without Equilibrium, 1985.

External links

The Scourge of Monetarism (1982)

Biography

Anthony P Thirlwall, "Nicholas Kaldor", NY: New York University Press, 1987.