Nicholas Kaldor

Nicholas Kaldor, Baron Kaldor , born Kldor Mikls, was a Cambridge economist in the postwar period. He developed the compensation criteria called KaldorHicks efficiency for welfare comparisons , derived the cobweb model, and argued for certain regularities observable in economic growth, which are called Kaldors growth laws. Kaldor worked alongside Gunnar Myrdal to develop the key concept Circular Cumulative Causation, a multicausal approach where the core variables and their linkages are delineated. Both Myrdal and Kaldor examine circular relationships, where the interdependencies between factors are relatively strong, and where variables interlink in the determination of major processes. Gunnar Myrdal got the concept from Knut Wicksell and developed it alongside Nicholas Kaldor when they worked together at the United Nations Economic Commission for Europe. Myrdal concentrated on the social provisioning aspect of development, while Kaldor concentrated on demandsupply relationships to th

He was born Kldor Mikls in Budapest, and was educated there, as well as in Berlin, and at the London School of Economics, where he subsequently became an assistant lecturer and then, by 1938, a lecturer. Between 1943 and 1945 Kaldor worked for the National Institute of Economic and Social Research and in 1947 he resigned from the LSE to become Director of Research and Planning at the Economic Commission for Europe. He was elected to a Fellowship at Kings College, Cambridge and offered a lectureship in the Economics Faculty of the University in 1949. He became a Reader in Economics in 1952, and Professor in 1966.

Source: Wikipedia