Date of Award
Peter Ho, Ph.D.
Nicholas Kaldor, Keynesian revolution, Increasing returns theory
Nicholas Kaldor was a famous post-Keynesian theorist who fought on Keynesian revolution in Cambridge with Keynes himself. However, during the last twenty years of his life, Kaldor became engaged with increasing returns theory originated from Adam Smith and Allyn Young. Kaldor propagated the theory even though it was not mature. There were many controversies and critiques to Kaldor's increasing returns theory. Kaldor began to write extensively about this worldview scattered throughout many of his academic papers and essays. This thesis tracks Kaldor's process of theoretical formulation during the last twenty years of his life. It presents Kaldor's view from the first paper he wrote on increasing returns to his final essay. The thesis discusses both theoretical and historical aspects of each paper and essay in an attempt to understand Kaldor's theoretical development. Kaldor's late contributions is an evolution of a worldview. In the last chapter, the thesis provides a model of Kaldor's late contribution constructed from intuitions behind his writing.
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Nukulkit, Up Sira, "Kaldor's Late Contributions" (2015). Electronic Theses and Dissertations. 481.
Received from ProQuest