Not the Devil’s Decade: Nicholas Kaldor in the 1930s

J. E. King

History of Economics Review, 2007, vol. 46, issue 1, 39-61

Abstract: At the beginning of the 1930s Nicholas Kaldor (1908-1986) was a third-year undergraduate student at the London School of Economics. By the end of the decade he was an established economic theorist with an international reputation and a string of well-received publications to his name. In this paper I focus on Kaldor’s four most important articles from this period: his 1934 paper on the nature of equilibrium theorising; two pieces from 1939, on the compensation principle in welfare economics and on money, finance and the consequences of speculative behaviour; and the 1940 paper setting out his Keynesian model of the trade cycle. All four articles, I argue, are of considerable continuing interest.

Date: 2007
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DOI: 10.1080/18386318.2007.11682109

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