Nicholas Kaldor after Thirty Years

PSL Quarterly Review, vol. 69 n. 277, 2016

27 Pages Posted: 18 Jan 2018

See all articles by John Edward King

John Edward King

La Trobe University; Federation University Australia

Date Written: June 12, 2016

Abstract

The article analyses Kaldor’s ideas on economic policy, his interest in policy issues, and his contribution on specific policies. It underlines Kaldor’s strong and cogent views on three main topics: monetary and fiscal policy, the control of cost inflation, and the stabilisation of commodity prices. The author suggests how Kaldor might have reacted to the most important economic policy questions that still face Britain and the European Union, thirty years after his death. Kaldor was a prominent opponent of Britain’s entry into the then Common Market in the 1970s: not on the basis of any emotive English nationalism, but rather because he believed that the British economy would be damaged by an exposure to unlimited competition from more successful European industries. Perhaps he would have argued that, by 2016, the damage has already been done, and that Britain should now remain in the Union to continue the fight for more sensible macroeconomic policies. He would certainly have been pleased that his adoptive country had refused to join the Eurozone.

Keywords: Kaldor, Economic Policies, Inflation

JEL Classification: B31; E61; E52

Suggested Citation

King, John Edward, Nicholas Kaldor after Thirty Years (June 12, 2016). PSL Quarterly Review, vol. 69 n. 277, 2016, Available at SSRN: https://ssrn.com/abstract=3100777

John Edward King (Contact Author)

La Trobe University ( email )

Department of Economics and Finance
Victoria 3552, 3086
Australia

Federation University Australia ( email )

University Dr.
Mt Helen, Victoria 3350
Australia

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