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On Kaldor's "Logical Slip": A Possible Explanation

Correspondence: Correspondence may be addressed to Joan O'Connell, Department of Economics, National University of Ireland, Galway, Ireland; e-mail: joan.oconnell{at}nuigalway.ie.

In outlining his theory of economic growth and income distribution, Kaldor made a "logical slip": while in his model, workers might save, workers' assets were accounted for. Kaldor acknowledged the strong influence of Kalecki and Keynes on his work. What is suggested here is that Kaldor may have "slipped" because he applied comments by, in particular, Keynes to the context of his own model. In Kaldor's case, however, the use of Keynes's remarks was not coherent.

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