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Nicholas Kaldor: The Economics and Politics of Capitalism as a Dynamic System

Author

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  • Targetti, Ferdinando

    (Bocconi University, Milan)

Abstract

Nicholas Kaldor (1908-1986) was one of this century's most original thinkers on economics, his influence on British economic policy second only to that of Keynes. This book traces the development of Kaldor's thought as it underwent a remarkable evolution from his membership of the Austrian neoclassical school to his embracing of radical Keynesianism. He was also extremely quick to grasp essential changes in economic reality and to forge analytical tools to explain them. Although he was innovative from 1938 onwards, much of his seminal work belongs to a coherent project of research which made him, together with Joan Robinson and Michal Kalecki, a leading representative of the post-Keynesian school, an outstanding critic of the neoclassical theory of equilibrium, growth, and distribution, and a convinced opponent of the monetarist school. The book also seeks to show how economic policy and political economy were closely connected in Kaldor's work. It was this that made Kaldor one of the most lucid and radical champions of the economic policies which, by blending political freedom with social justice, have been the outstanding feature of the great European tradition of social democracy.

Suggested Citation

  • Targetti, Ferdinando, 1992. "Nicholas Kaldor: The Economics and Politics of Capitalism as a Dynamic System," OUP Catalogue, Oxford University Press, number 9780198283485.
    • Handle: RePEc:oxp:obooks:9780198283485
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    Cited by:

    1. repec:ilo:ilowps:366690 is not listed on IDEAS
    2. Piva, Mariacristina., 2004. "The impact of technology transfer on employment and income distribution in developing countries : a survey of theoretical models and empirical studies," ILO Working Papers 993666903402676, International Labour Organization.
    3. Yongbok Jeon & Tae Hwan Yoo, 2009. "Regional Growth and Income Inequality in China After 1978: A Spatial Econometric Approach," Korean Economic Review, Korean Economic Association, vol. 25, pages 105-131.
    4. Sean Turnell & Leanne Ussher, 2009. "A 'New Bretton Woods': Kaldor and the Antipodean Quest for Global Full Employment," Review of Political Economy, Taylor & Francis Journals, vol. 21(3), pages 423-445.
    5. Alessandro Bellocchi & Giuseppe Travaglini & Beatrice Vitali, 2023. "How capital intensity affects technical progress: An empirical analysis for 17 advanced economies," Metroeconomica, Wiley Blackwell, vol. 74(3), pages 606-631, July.
    6. Tostes Lamonica, Marcos & Feijó, Carmem Aparecida, 2012. "The importance of the manufacturing sector for Brazilian economic development," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.
    7. John E. King, 2010. "Kaldor and the Kaldorians," Chapters, in: Mark Setterfield (ed.), Handbook of Alternative Theories of Economic Growth, chapter 7, Edward Elgar Publishing.
    8. Louis-Philippe Rochon, 2001. "Cambridge's Contribution to Endogenous Money: Robinson and Kahn on credit and money," Review of Political Economy, Taylor & Francis Journals, vol. 13(3), pages 287-307.
    9. Matias Vernengo & Louis-Philippe Rochon, 2001. "Kaldor and Robinson on money and growth," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 8(1), pages 75-103.
    10. Ferdinando Targetti, 2005. "Forum 2005," Development and Change, International Institute of Social Studies, vol. 36(6), pages 1185-1199, November.
    11. Guglielmo Maria Caporale & Marinko Skare, 2011. "Employment Growth, Inflation and Output Growth: Was Phillips Right?: Evidence from a Dynamic Panel," Discussion Papers of DIW Berlin 1138, DIW Berlin, German Institute for Economic Research.
    12. Colacchio, Giorgio & Forges Davanzati, Guglielmo, 2017. "Endogenous money, increasing returns and economic growth: Nicholas Kaldor’s contribution," Structural Change and Economic Dynamics, Elsevier, vol. 41(C), pages 79-85.
    13. Therese Jefferson & John King, 2009. "Nicholas Kaldor and Critical Realism," Review of Political Economy, Taylor & Francis Journals, vol. 21(3), pages 463-480.
    14. J.E King, 2007. "Kaldor’S War," Monash Economics Working Papers 25-07, Monash University, Department of Economics.
    15. Thomas Boylan & Paschal O'Gorman, 2009. "Kaldor on Debreu: The Critique of General Equilibrium Reconsidered," Review of Political Economy, Taylor & Francis Journals, vol. 21(3), pages 447-461.
    16. Johan Deprez, 1994. "Nicholas Kaldor and the Real World," Journal of Economic Issues, Taylor & Francis Journals, vol. 28(4), pages 1311-1314, December.
    17. Maria Cristina Marcuzzo, 2017. "The “Cambridge” critique of the quantity theory of money: A note on how quantitative easing vindicates it," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 40(2), pages 260-271, April.
    18. Robert Tignor, 2004. "Unlimited Supplies Of Labor1," Manchester School, University of Manchester, vol. 72(6), pages 691-711, December.
    19. Avi Cohen, 2006. "The Kaldor/Knight controversy: Is capital a distinct and quantifiable factor of production?," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 13(1), pages 141-161.
    20. Marcos Tostes Lamonica & Carmem Aparecida Feijo, 2007. "Crescimento E Industrialização No Brasil: As Lições Das Leis De Kaldor," Anais do XXXV Encontro Nacional de Economia [Proceedings of the 35th Brazilian Economics Meeting] 053, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    21. Gomes, Luiz, 2022. "Nicholas Kaldor’s Economics: a Review," MPRA Paper 111352, University Library of Munich, Germany.
    22. Giorgio Lunghini, 2010. "On the Crisis: Back to the Classics!," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 3, September.
    23. Guglielmo Forges Davanzati, 2015. "Nicholas Kaldor on endogenous money and increasing returns," Working Papers PKWP1505, Post Keynesian Economics Society (PKES).
    24. K. Vela Velupillai, 2012. "Ferdinando Targetti - In Memorium Scholar, Friend, Colleague- and a Gentleman," ASSRU Discussion Papers 1208, ASSRU - Algorithmic Social Science Research Unit.
    25. John Edward King, 2016. "Nicholas Kaldor after thirty years," PSL Quarterly Review, Economia civile, vol. 69(277), pages 107-277.

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