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Nicholas KALDOR


Nicholas Kaldor, Baron Kaldor 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), derived the famous cobweb model and argued that there were certain regularities that are observable as far as economic growth is concerned, Kaldor's growth laws.


KALDOR, Nicholas was born in 1908 in Budapest, Hungary.


Nicholas disliked teaching in Germany. He said: "To be at university in Germany meant that you wandered from one lecture to another without any discipline and without having a clear programme of courses to follow. So he left for England in 1927.


Assistant Lector, Reader Economics, London School of Economies and Political Science, London, United Kingdom, 1932-1947. Research Association National Institute of Economie and Social Research, London, United Kingdom, 1943-1945. Chief, Economics Planning Staff, United States Strategic Bombing Survey, 1945.

Director, Research and Planning Division, ECE, Geneva, 1947-1949. Member, United Nations Group Experts, International Measures for Full Employment, 1949. Fellow, King’s College Cambridge, since 1949.

Reader Economics, Professor of Economics, University of Cambridge, Cambridge, United Kingdom, 1952-1965, 75. Member United Kingdom Royal Commission Taxation of Profits and Income, Adviser Tax Reform, Government India, 1956.

Economics Adviser, United Nations Economic Commission for Latin America, Santiago, Chile, 1956. Fiscal Adviser,

Governments: Ceylon, 1958, Mexico, 1960, British Guiana, 1961, Turkey, 1962, Iran, 1966, Venezuela, 1976. Ford Visiting Research Professor, University of California, Los Angeles, Calif., United States of America, 1959-1960.

Economics Adviser, Government Ghana, 1961. Visiting Economics, Reserve Bank Australia, 1963. Special Adviser, United Kingdom Chancellor Exchequer, 1964-1968, 1974-1976.

Professor Emeritus, Fellow, King’s College, Cambridge, since 1975.


  • Fellow, British Academy, 1963. Honorary Fellow, London School of Economies and Political Science, London, United Kingdom, 1970. President, Section F, British Association for the Advancement of Science, 1970, Royal Economic Society, United Kingdom, 1974-1976.

    Created Life Peer, 1974. Honorary Member, American Academy of Arts and Sciences, American Economic Association, Royal Economic Society, United Kingdom of Belgium, Hungarian Academy Sciences.



See my introductions to Collected Economic Essays, particularly vols 1,3, and 5.