Nicholas Kaldor

Nicholas Kaldor, Baron Kaldor, born Káldor Miklós, was a Hungarian economist. He developed the "compensation" criteria called Kaldor–Hicks efficiency for welfare comparisons (1939), derived the cobweb model, and argued for certain regularities observable in economic growth, which are called Kaldor's growth laws. Kaldor worked alongside Gunnar Myrdal to develop the key concept Circular Cumulative Causation, a multicausal approach where the core variables and their linkages are delineated.

12 May 1908

Born on the same birth day (12 May): Abelardo L. Rodríguez • Augustus II the Strong • Bill Shorten • Domhnall Gleeson • Earle Nelson • Franz Anton Hoffmeister • Frederick Holder • Frenkie de Jong • Gabriel Fauré • George Karl • J. E. H. MacDonald • Justus von Liebig • Kieron Pollard • Marcelo (footballer, born 1988) • Mike Weir • Otto Frank • Rupert II, Elector Palatine • Tom Snyder • Ving Rhames • Wilfrid Hyde-White • Yogi Berra

Born in the same month (May 1908): Diana Morgan (screenwriter) • Don Ameche • Giovannino Guareschi • Hannes Alfvén • Henry Bolte • Horton Smith • Hélène Boucher • James Stewart • Louis Daquin • Mel Blanc • Merriam Modell • Percy Williams (sprinter) • Robert Morley