Heterodox
Verdoorn’s law and Kaldor’s growth laws are important theories in Post Keynesian economics.Nicholas Kaldor’s foundational work on these laws can be found in these works:Kaldor, Nicholas. 1966. Causes of Slow Rate of Economic Growth of the United Kingdom: An Inaugural Lecture. Cambridge University Press, London.Kaldor, Nicholas. 1967. Strategic Factors in Economic Development. Ithaca, New York.In brief, Kaldor’s growth laws and Verdoorn’s Law can be summarised as three empirical...
Read More »