Kaldor (Nicholas Kaldor)

Nicholas Kaldor was an economist who studied how economies grow and develop. He proposed that economic growth depends on factors like investment, productivity, and technological progress, which create a cycle: increased investment leads to higher income and further investment. Kaldor also analyzed the relationship between wages, profits, and economic stability, emphasizing the importance of growth-friendly policies. His work highlights how capital accumulation and technological innovation drive long-term economic expansion, balancing income distribution and maintaining stability. Essentially, Kaldor's ideas help us understand the dynamics behind sustained economic growth and development.