Kaldor's facts

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Kaldor's facts are six statements about economic growth, proposed by Nicholas Kaldor in his article of 1961.

The statements are:

  1. Output per workers grows at a rate that does not diminish over time.
  2. Capital per worker grows over time.
  3. The rate of return to capital is constant.
  4. The capital/output ratio is roughly constant.
  5. The share of capital and labour in net income are nearly constant.
  6. Growth rates differ across countries.

[edit] See also

[edit] References

  • Capital Accumulation and Economic Growth, 1961, in Lutz, editor, Theory of Capital
  • Allen, R.G.D.: Macro-Economic Theory : A Mathematical Treatment. - London, Melbourne, Toronto: Macmillan, 1968.
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