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The Irrelevance of Equilibrium Economics
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In the citing paper
“Second, the existence of indivisibilities -and thus the need to solve 'scale bottlenecks' -in production may lead to organizational innovations, not just in the industry itself but through the whole value chain in which the industry is embedded.”
From Industrial Policy in the 21st Century (2020) · cites this paper as Kaldor, 1972
In the citing paper
“However, according to Kaldor (1972Kaldor ( : 1249-50)-50), the absorption of a continuously rising volume of production depends on 'additional incomes resulting from the accumulation of capital (in other words, from investment expenditures) combined with the induced character of such investment'.”
From Industrial Policy in the 21st Century (2020) · cites this paper as Kaldor, 1972: 1249-50
In the citing paper
“The banking sector enables capital investments which, in turn, generate the 'savingsadditional investments-savings' dynamics, while the merchants operate as countercyclical forces absorbing stocks in response to excess supply, and releasing stocks in the face of excessive demand.”
From Industrial Policy in the 21st Century (2020) · cites this paper as Kaldor, 1972
In the citing paper
“The banking sector enables capital investments which, in turn, generate the 'savingsadditional investments-savings' dynamics, while the merchants operate as countercyclical forces absorbing stocks in response to excess supply, and releasing stocks in the face of excessive demand.”
From Industrial Policy in the 21st Century (2020) · cites this paper as Kaldor, 1972
In the citing paper
“According to Kaldor, for the income multiplier and the investment accelerator mechanisms to be effective, the banking system as well as what he calls the 'merchants' have to play critical roles.”
From Industrial Policy in the 21st Century (2020) · cites this paper as Kaldor, 1972
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Braz, D. H. D. O., & Terra, F. H. B. (2022) · Brazilian Journal of Political Economy · doi:10.1590/0101-31572022-3109
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The Traverse, Equilibrium Analysis and Post-Keynesian EconomicsPreprint
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Cramer, C., Sender, J., & Oqubay, A. (2020) · Oxford University Press eBooks · doi:10.1093/oso/9780198832331.003.0006 · Cited by 1
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Nell, E. J. (1992) · Palgrave Macmillan UK eBooks · doi:10.1007/978-1-349-10950-0_5
Ayres, R. U., & Warr, B. S. (2009) · Edward Elgar Publishing eBooks · doi:10.4337/9781848445956.00019
Ricoy, C. J. (2018) · The New Palgrave Dictionary of Economics · doi:10.1057/978-1-349-95189-5_550
Crafts, N. F. R. (1987) · The New Palgrave Dictionary of Economics · doi:10.1057/978-1-349-95121-5_238-1
Chandra, R. (2019) · Great Thinkers in Economics · doi:10.1007/978-3-030-31981-6_10
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de Oliveira, B. M., Franchini, A. A., & Veloso, M. V. D. S. (2022) · Pesquisa & Debate. Revista do Programa de Estudos Pós-Graduados em Economia Política · doi:10.23925/1806-9029.v33i2e57299
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Lavoie, M. (2022) · Edward Elgar Publishing eBooks · doi:10.4337/9781839109621.00015
Iordanoglou, C. H. (2001) · Edward Elgar Publishing eBooks · doi:10.4337/9781781950371.00017
Arestis, P., Brown, A., & Sawyer, M. (2001) · Edward Elgar Publishing eBooks · doi:10.4337/9781843766940.00012
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Accessing the Usefulness of Neoclassical Economics Theory
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BackgroundLes Grands Auteurs en Management de l'innovation et de la créativité
Lorentz, A., & Borsato, A. (2023) · EMS Editions eBooks · doi:10.3917/ems.burge.2023.01.0265
Dysfonctionnement du système des paiements intra-européens
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Shocking projections: The rise of the [x-shock] construction complex in macroeconomics
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Chumbita, J. S. (2024) · Ensayos de Economía · doi:10.15446/ede.v34n64.90830
FAKHFAKH, S. (2025) · Journal of the Knowledge Economy · doi:10.1007/s13132-024-02529-0
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Bossone, B. (2025) · Contributions to economics · doi:10.1007/978-3-031-82544-6_1
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“If so, the current focus on the incorporation of an explicit productivity argument in the BPCG model would highlight a more Keynesian Young-Kaldor (1972) learning by doing dynamism that gives a key role to independent investments embedded in the division of labor-based intermediate goods…”
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“…distinguish Smith’s and other classical political economists’ theory of equilibrium as irreducibly statistical, arising from the interactions between producers in a complex division of labor from the narrow concept of static equilibrium that is the cornerstone of neoclassical thought (Kaldor 1972).”
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Blaug, M. (2008) · The New Palgrave Dictionary of Economics · doi:10.1007/978-1-349-58802-2_164
Groenewegen, P. (2008) · The New Palgrave Dictionary of Economics · doi:10.1007/978-1-349-58802-2_400
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“This new growth and distribution model starts from Kaldor’s vision of the economic growth process [27] as a chain-reaction.”
Langfristige Makro-Gleichgewichte
Schmitt-Rink, G. (1990) · Springer-Lehrbuch · doi:10.1007/978-3-642-97244-7_6
Study Note : The Bibliography for the Theory of Finance and Related Areas
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“These processes operate through a mechanism of “cir-cular and cumulative causation” (CCC), as articulated by Myrdal (1957) and Kaldor (1972), which emphasizes how initial economic successes trigger self-reinforcing cycles that interact across social, economic, and environmental domains.”
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Metadata
- Authors
- Kaldor, N.
- Affiliations
- University of Cambridge (GB)
- Corresponding author
- Kaldor, Nicholas
- Venue
- The Economic Journal
- Publisher
- Oxford University Press (OUP)
- Published
- 1972-12
- Volume
- 82
- Issue
- 328
- Pages
- 1237
- ISSN
- 0013-0133 (ISSN-L)
- OpenAlex
- W1980427659
- Cited by
- 1,013
- References
- 0
- Citations by year
- 2026: 20 · 2025: 22 · 2024: 14 · 2023: 27 · 2022: 23 · 2021: 36 · 2020: 44 · 2019: 30 · 2018: 32 · 2017: 36 · 2016: 31 · 2015: 34 · 2014: 29 · 2013: 28 · 2012: 30
- FWCI
- 26.75
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- The Economic Journal (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Economic Theory and Policy
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic theories and models
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Theory and Institutions
- Keywords
- economic equilibrium, economic methodology, general equilibrium
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