Kaldor's Growth And Distribution Theory

Kaldor is probably best known for his contributions to the theories of growth and distribution. Uncertainty, imperfect competition and a recognition of the central importance of firms' investment and finance decisions characterize his analysis in this area and he also developed a first attempt to endogenize the factors behind technical progress. In this book it is shown that although Kaldor's theory of growth and distribution has weaknesses there is much to be learned from a critical but sympathetic examination of his explanation of the stylised facts of long term growth in capitalist economies.