Skip to main content

Kaldor's Growth Theory

  • Nancy J. Wulwick

The last decade has seen an outburst of growth models designed to replace the conventional Solow growth model, with its exogenous trend of technical progress, by more realistic models that generate increasing returns (to labor, capital and/or scale) as a result of endogenous technical progress. In contrast to the Solow model, the new models suggest that policy interventions can affect the long-run rate of economic growth. Nicholas Kaldor's growth model, designed in the late 1950s and early 1960s to replace the Solow growth model, is a precursor of the new growth models.

Hide All
Arrow, K. J. 1962. “The Economic Implications of Learning by Doing,” Review of Economic Studies, 29, 155–73.
Bairam, E. I. 1987. “The Verdoorn Law, Returns to Scale and Industrial Growth: A Review of the Literature,” Australian Economic Papers, 26, 2042.
Baumol, W. J. and Wolff, E. N.. 1988. “Productivity Growth, Convergence, and Welfare: Reply,” American Economic Review, 78, 591155.
Boyer, R. and Petit, P.. 1991. “Kaldor's Growth Theories: Past, Present and Prospects for the Future,” in Nell, E. J. and Semmler, W., eds., Nicholas Kaldor and Mainstream Economics, Macmillian, London.
Champernowne, D. G. 1954. “On the Use and Misuse of Mathematics in Presenting Economic Theory,” Review of Economics and Statistics, 36, 369–72.
Clark, Colin 1940. The Conditions of Economic Progress, Macmillan, London.
Economist. 1966. “The Explanation of SET,” 5 11, pp. 547–78.
Gilbert, C. L. 1991. “Richard Stone, Demand Theory and the Emergence of Modern Econometrics,” Economic Journal, 101, 288302.
Haache, G. 1979. The Theory of Economic Growth: An Introduction, Macmillan, London.
Hahn, F. 1989. “Kaldor on Growth,” in Lawson, T., Palma, J. G. and Sender, J., eds., Kaldor's Political Economy, Academic Press, London.
Hahn, F. and Matthews, R. C. O.. 1964. “The Theory of Economic Growth: A Survey,” Economic Journal, 74, 779902.
Harrod, R. 1965. “Review: Essays on Economic Policy, by N. Kaldor,” Economic Journal, 75, 794802.
Hill, A. T. P. and McGibbon, J.. 1966. “Growth of Sector Real Product,” Review of Income and Wealth, ser. 12, 3555.
Johnston, J. 1967. “Econometrics: Achievements and Prospects,” Three Banks Review, no. 73, 322.
Jones, G. T. 1933. Increasing Returns, Cambridge University Press, London.
Kaldor, N. 1957. “A Model of Economic Growth,” Economic Journal, 67, 591624.
Kaldor, N. 1958. “Capital Accumulation and Economic Growth”, in Lutz, F. A. and Hague, D. C., eds., Theory of Capital, Macmillan, London.
Kaldor, N. 1960. “A Rejoinder to Mr Atsumi and Professor Tobin,” Review of Economic Studies, 28, 121–23.
Kaldor, N. 1966. Causes of the Slow Rate of Economic Growth of the United Kingdom, University of Cambridge Press, Cambridge.
Kaldor, N. 1966. “Marginal Productivity and the Macro-economic Theories of Distribution,” Review of Economic Studies, 33, 309–19.
Kaldor, N. 1968. “Productivity and Growth in Manufacturing Industry: A Reply,” Economica, 35, 385–91.
Kaldor, N. 1972. “The Irrelevance of Equilibrium Economics,” Economic Journal, 82, 551237.
Kaldor, N. 1975. “Economic Growth and the Verdoorn Law: A Comment on Mr Rowthorn's Article,” Economic Journal, 85, 891–95.
Kaldor, N. 1980. “The Economics of the Selective Employment Tax,” in Kaldor, N., Reports on Taxation 1, Holmes and Meier, New York.
Kaldor, N. 1989. “Recollections of an Economist,” in Kregel, J., ed., Recollections of Eminent Economists, 1, New York University Press, New York.
Kaldor, N. and Mirrlees, K. 1962. “A New Model of Economic Growth,” Review of Economic Studies, 25, 174–92.
Lucas, R. E. 1988. “On the Mechanics of Economic Development,” Journal of Monetary Economics, 22, 342.
Lucas, R. E. 1990. “Why Doesn't Capital Flow from Rich to Poor Countries,” American Economic Review, 80, 9296.
Novick, D. 1954. “Mathematics: Logic, Quantity, and Method,” Review of Economics and Statistics, 36, 357–58.
OECD. 1966. Productivity Measurement, 3, Paris.
Quandt, R. E. 1976. “Some Quantitative Aspects of the Economics Journal Literature,” Quarterly Journal of Economics, 85, 741–55.
Romer, M. 1983. “Dynamic Competitive Equilibria with Externalities, Increasing Returns and Unbounded Growth,” unpublished Ph.D. dissertation, University of Chicago.
Romer, M. 1986. “Increasing Returns and Long-Run Growth,” Journal of Political Economy, 94, 371002.
Romer, M. 1986. “Increasing Returns, Specialization, and External Economies: Growth as Described by Allyn Young,” University Center for Economic Research Working Paper, no. 64.
Romer, M. 1989. “Capital Accumulation in the Theory of Long-run Growth,” in Barro, R. J., ed., Modern Business Cycle Theory, Harvard University Press, Cambridge.
Rowthorn, R. E. 1979. “A Note on Verdoorn's Law,” Economic Journal, 89, 131–33.
Samuelson, P. A. 1988. “The Passing of the Old Guard,” Eastern Economic Journal, 14, 319–30.
Samuelson, P. A. 1989. “Remembering Joan,” in Feiwel, G., ed., Joan Robinson and Modern Economic Theory, New York University Press, New York.
Scott, M. F. 1989. A New View of Economic Growth, Clarendon Press, Oxford.
Solow, R. J. 1956. “A Contribution to the Theory of Economic Growth,” in Stiglitz, J. E. and Uzawa, H., eds., Readings in the Modern Theory of Economic Growth, MIT Press, Boston, 1969.
Solow, R. J. 1957. “Technical Change and the Aggregate Production Function,” Review of Economics and Statistics, 39, 312–20.
Solow, R. J. 1959. “Investment and Technical Progress,” in Arrow, K. J., Karlin, S., Suppes, P., eds., Mathematical Methods in the Social Sciences, Stanford University Press, Stanford.
Solow, R. J. 1962. “Technical Progress, Capital Formation, and Economic Growth,” American Economic Review, 52, 7692.
Svennilson, I. 1945. “Industriarbetets växande avkastning i belysning av svenska erfarenheter,” in Heckscher, E. F., ed., Studier I Ekonomi Och Historia,Almqvist and Wicksells, Uppsala.
Svennilson, I. 1954. Growth and Stagnation in the European Economy, United Nations Economic Commission for Europe, Geneva.
Tinbergen, J. 1988. “The Role of Errors in Scientific Development,” Review of Social Economy, 46, 225–30.
Thirlwall, A. P. 1980. “Rowthorn's Interpretation of Verdoorn's Law,” Economic Journal, 90, 386–88.
Thirlwall, A. P. 1983. “Introduction: A Plain Man's Guide to Kaldor's Growth Laws,” Journal of Post Keynesian Economics, 5, 341–58.
Thirlwall, A. P. 1987. Nicholas Kaldor, Wheatsheaf Publishers, Brighton.
Thirlwall, A. P. and Dixon, R. 1975. “Regional Growth-Rate Differences on Kaldorian Lines,” Oxford Economic Papers, 26, 201–14.
Verdoorn, P. J. 1949. “Factors that Determine the Growth of Labour Productivity,” L'Industria, English translation available upon request from Thirlwall, A. P., University of Kent at Canterbury.
Wulwick, N. J. 1983. “Can Keynesian Economics Be Scientific: An Historical Reconstruction,” Eastern Economic Journal, 9, 190204.
Wulwick, N. J. 1990. “The Mathematics of Economic Growth,” The Jerome Levy Institute at Bard College Working Paper, no. 38.
Wulwick, N. J. 1991. “Did the Verdoorn Law Hang on Japan?Eastern Economic Journal, 17, 1519.
Young, A. 1928. “Increasing Returns and Economic Progress,” Economic Journal, 38, 518–42.
Recommend this journal

Email your librarian or administrator to recommend adding this journal to your organisation's collection.

Journal of the History of Economic Thought
  • ISSN: 1053-8372
  • EISSN: 1469-9656
  • URL: /core/journals/journal-of-the-history-of-economic-thought
Please enter your name
Please enter a valid email address
Who would you like to send this to? *


Altmetric attention score

Full text views

Total number of HTML views: 0
Total number of PDF views: 0 *
Loading metrics...

Abstract views

Total abstract views: 0 *
Loading metrics...

* Views captured on Cambridge Core between <date>. This data will be updated every 24 hours.

Usage data cannot currently be displayed