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Nicholas Kaldor
Nicholas Kaldor, Baron Kaldor (12 May 1908 – 30 September 1986), born Káldor Miklós, was a Hungarian-born British economist. He developed the "compensation" criteria called Kaldor–Hicks efficiency for welfare spending, welfare comparisons (1939), derived the cobweb model, and argued for certain regularities observable in economic growth, which are called Kaldor's growth laws. Kaldor worked alongside Gunnar Myrdal to develop the key concept Circular Cumulative Causation, a multicausal approach where the core variables and their linkages are delineated. Biography Káldor Miklós was born in Budapest, son of Gyula Káldor, lawyer and legal adviser to the German legation in Budapest, and Jamba, an accomplished linguist and "a well-educated, cultured woman". He was educated in Budapest, as well as in Berlin, and at the London School of Economics, where he graduated with a first-class BSc (Econ.) degree in 1930. He subsequently became an assistant lecturer and, by 1938, lecturer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Post-Keynesian Economics
Post-Keynesian economics is a Schools of economic thought, school of economic thought with its origins in ''The General Theory of Employment, Interest and Money, The General Theory'' of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub (economist born 1914), Sidney Weintraub, Paul Davidson (economist), Paul Davidson, Piero Sraffa, Jan Kregel and Marc Lavoie. Historian Robert Skidelsky, Baron Skidelsky, Robert Skidelsky argues that the post-Keynesian school has remained closest to the spirit of Keynes' original work. It is a heterodox approach to economics based on a non-equilibrium economics, non-equilibrium approach. Introduction The term "post-Keynesian" was first used to refer to a distinct school of economic thought by Alfred Eichner, Eichner and Kregel (1975) and by the establishment of the ''Journal of Post Keynesian Economics'' in 1978. Prior to 1975, and occasionally in more ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyses what is viewed as basic elements within economy, economies, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetarism
Monetarism is a school of thought in monetary economics that emphasizes the role of policy-makers in controlling the amount of money in circulation. It gained prominence in the 1970s, but was mostly abandoned as a direct guidance to monetary policy during the following decade because of the rise of inflation targeting through movements of the official interest rate. The monetarist theory states that variations in the money supply have major influences on national output in the short run and on price levels over longer periods. Monetarists assert that the objectives of monetary policy are best met by targeting the growth rate of the money supply rather than by engaging in discretionary monetary policy. Phillip Cagan, 1987. "Monetarism", '' The New Palgrave: A Dictionary of Economics'', v. 3, Reprinted in John Eatwell et al. (1989), ''Money: The New Palgrave'', pp. 195–205, 492–97. Monetarism is commonly associated with neoliberalism. Monetarism is mainly associated ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cambridge
Cambridge ( ) is a List of cities in the United Kingdom, city and non-metropolitan district in the county of Cambridgeshire, England. It is the county town of Cambridgeshire and is located on the River Cam, north of London. As of the 2021 United Kingdom census, the population of the City of Cambridge was 145,700; the population of the wider built-up area (which extends outside the city council area) was 181,137. (2021 census) There is archaeological evidence of settlement in the area as early as the Bronze Age, and Cambridge became an important trading centre during the Roman Britain, Roman and Viking eras. The first Town charter#Municipal charters, town charters were granted in the 12th century, although modern city status was not officially conferred until 1951. The city is well known as the home of the University of Cambridge, which was founded in 1209 and consistently ranks among the best universities in the world. The buildings of the university include King's College Chap ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Peer
In the United Kingdom, life peers are appointed members of the peerage whose titles cannot be inherited, in contrast to hereditary peers. Life peers are appointed by the monarch on the advice of the prime minister. With the exception of the Dukedom of Edinburgh awarded for life to Prince Edward in 2023, all life peerages conferred since 2009 have been created under the Life Peerages Act 1958 with the rank of baron, and entitle their holders to sit and vote in the House of Lords so long as they meet qualifications such as age and citizenship. The legitimate children of a life peer appointed under the Life Peerages Act 1958 are entitled to style themselves with the prefix "The Honourable", although they cannot inherit the peerage. Prior to 2009, life peers of baronial rank could also be created under the Appellate Jurisdiction Act 1876 for senior judges, referred to as Law Lords, with functions then taken over by the new Supreme Court. Before 1887 The Crown, as '' foun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Cambridge
The University of Cambridge is a Public university, public collegiate university, collegiate research university in Cambridge, England. Founded in 1209, the University of Cambridge is the List of oldest universities in continuous operation, world's third-oldest university in continuous operation. The university's founding followed the arrival of scholars who left the University of Oxford for Cambridge after a dispute with local townspeople. The two ancient university, ancient English universities, although sometimes described as rivals, share many common features and are often jointly referred to as Oxbridge. In 1231, 22 years after its founding, the university was recognised with a royal charter, granted by Henry III of England, King Henry III. The University of Cambridge includes colleges of the University of Cambridge, 31 semi-autonomous constituent colleges and List of institutions of the University of Cambridge#Schools, Faculties, and Departments, over 150 academic departm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Selective Employment Tax
Selective Employment Tax (SET) was a weekly payroll tax in the United Kingdom. It was levied against employers at a flat rate of per man, and per woman. SET was intended to subsidise manufacturing industry from the proceeds of the services industries, to help exports. At the end of each accounting period, manufacturing companies would have their SET payments refunded, along with a 7s 6d bounty or premium per employee (SEP). The premium was withdrawn outside assisted areas (United Kingdom) in 1967, while a ''Regional Employment Premium'' was introduced payable at fixed amounts for employees still eligible for SEP. SET was designed to be a tax on those companies that did not boost UK exports. High-street bookmakers used the introduction of this tax as a reason to reduce the payout on some each-way bets (where a horse is placed in the first two or three, depending on the number of runners) from a quarter the odds to a fifth the odds. However, the previous, larger payouts were ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harold Wilson
James Harold Wilson, Baron Wilson of Rievaulx (11 March 1916 – 23 May 1995) was a British statesman and Labour Party (UK), Labour Party politician who twice served as Prime Minister of the United Kingdom, from 1964 to 1970 and again from 1974 to 1976. He was Leader of the Labour Party (UK), Leader of the Labour Party from 1963 to 1976, Leader of the Opposition (United Kingdom), Leader of the Opposition twice from 1963 to 1964 and again from 1970 to 1974, and a Member of Parliament (United Kingdom), Member of Parliament (MP) from 1945 United Kingdom general election, 1945 to 1983 United Kingdom general election, 1983. Wilson is the only Labour leader to have formed administrations following four general elections. Born in Huddersfield, Yorkshire, to a politically active lower middle-class family, Wilson studied a combined degree of philosophy, politics and economics at Jesus College, Oxford. He was later an Economic History lecturer at New College, Oxford, and a research fello ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas Balogh
Thomas Balogh, Baron Balogh (2 November 190520 January 1985), born Balog Tamás, was a British economist and member of the House of Lords. The elder son of a wealthy Budapest Jewish family (his father was head of public transport, his mother the daughter of a professor), Balogh studied at the Minta Gymnasium, considered 'the Eton of Hungarian youth', then at the universities of Budapest and Berlin. He took a two-year research position at Harvard University as a Rockefeller Fellow in 1928. Following this, Balogh worked in banking in Paris, Berlin and Washington before coming to England.A Biographical Dictionary of Dissenting Economists, ed. Philip Arestis, Malcolm C. Sawyer, pg 28-35, Edward Elgar Publishing Ltd, 2000 After getting British citizenship in 1938, he became a lecturer at Balliol College, Oxford, and was elected to a Fellowship in 1945, then became Reader in 1960. He was also the economic correspondent for the ''New Statesman'', an economic adviser to Harold Wils ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungarian People
Hungarians, also known as Magyars, are an ethnic group native to Hungary (), who share a common culture, language and history. They also have a notable presence in former parts of the Kingdom of Hungary. The Hungarian language belongs to the Ugric branch of the Uralic language family, alongside the Khanty and Mansi languages. There are an estimated 14.5 million ethnic Hungarians and their descendants worldwide, of whom 9.6 million live in today's Hungary. About 2 million Hungarians live in areas that were part of the Kingdom of Hungary before the Treaty of Trianon in 1920 and are now parts of Hungary's seven neighbouring countries, Slovakia, Ukraine, Romania, Serbia, Croatia, Slovenia, and Austria. In addition, significant groups of people with Hungarian ancestry live in various other parts of the world, most of them in the United States, Canada, Germany, France, the United Kingdom, Chile, Brazil, Australia, and Argentina, and therefore constitute the Hungarian diaspora (). ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Added Tax
A value-added tax (VAT or goods and services tax (GST), general consumption tax (GCT)) is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax. VAT is an indirect tax, because the consumer who ultimately bears the burden of the tax is not the entity that pays it. Specific goods and services are typically exempted in various jurisdictions. Products exported to other countries are typically exempted from the tax, typically via a rebate to the exporter. VAT is usually implemented as a destination-based tax, where the tax rate is based on the location of the customer. VAT raises about a fifth of total tax revenues worldwide and among the members of the Organisation for Economic Co-operation and Development (OECD). As of January 2025, 175 of the 193 countries with UN membership employ a VAT, including all OECD members except the United States. History German indust ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labour Party (UK)
The Labour Party, often referred to as Labour, is a List of political parties in the United Kingdom, political party in the United Kingdom that sits on the Centre-left politics, centre-left of the political spectrum. The party has been described as an alliance of social democrats, democratic socialists and trade unionists. It is one of the Two-party system, two dominant political parties in the United Kingdom; the other being the Conservative Party (UK), Conservative Party. Labour has been led by Keir Starmer since 2020 Labour Party leadership election (UK), 2020, who became Prime Minister of the United Kingdom following the 2024 United Kingdom general election, 2024 general election. To date, there have been 12 Labour governments and seven different Labour Prime Ministers – Ramsay MacDonald, MacDonald, Clement Attlee, Attlee, Harold Wilson, Wilson, James Callaghan, Callaghan, Tony Blair, Blair, Gordon Brown, Brown and Starmer. The Labour Party was founded in 1900, having e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
