Nicholas Kaldor

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Nicholas Kaldor, Baron Kaldor (Budapest, 12 May 1908 - Papworth Everard, Cambridgeshire, 30 September 1986) was one of the foremost Cambridge economists in the post-war period. He developed the famous "compensation" criteria called Kaldor-Hicks efficiency for welfare comparisons (1939). Furthermore, he derived the famous cobweb model. Kaldor was educated in Budapest, Berlin, and at the London School of Economics, where he subsequently became a lecturer.

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