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Definition: Kuznets, Simon 1905-1985, from Dictionary of Energy

Russian-American economist who pioneered the field of development economics, focusing on an analysis of the economic experiences of modern underdeveloped countries. See environmental kuznets curve.

Kuznets, Simon Smith

From The Hutchinson Unabridged Encyclopedia with Atlas and Weather Guide
Russian-born US economist. Kuznets was awarded the Nobel Prize for Economics in 1971 for his pre-war efforts in reconstructing the national income and product accounts of the USA back to 1919, and eventually back to 1869. This work allowed empirical flesh to be placed on the Keynesian skeleton, which played a crucial role in the rapid acceptance of Keynesian economics during and after World War II. Similarly, it supported the then young science of econometrics, which relied heavily on Kuznets's data. Kuznets's early work on cyclical fluctuations in retail and wholesale trade identified cycles of 15–20 years' duration, which have ever since been labelled ‘Kuznets's cycles’. Later work on growth patterns in different countries identified an inverse U-relationship between per capita income and the inequality of income distribution, such that in poor countries inequality rises with income but in rich countries it falls as income rises. Kuznets was born in Kharkov (now in the Ukraine) and…
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Full text Article Kuznets, Simon (Smith)

From Britannica Concise Encyclopedia
(born April 30, 1901, Kharkov, Ukraine, Russian Empire—died July 8, 1985, Cambridge, Mass., U.S.) Russian-U.S. economist and statistician. He immigrated to the U.S. in 1922 and joined the National Bureau of Economic Research in 1927; he later taught at the University of Pennsylvania (1930–54), Johns…
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Full text Article KUZNETS, SIMON SMITH

From Encyclopedia of Nobel Laureates 1901-2017 Full text Article ECONOMICS
KUZNETS, SIMON SMITH
Nationality: American b. 30 April 1901, Pinsk, Russian Empire (now Belarus); d. 8 July 1985, Cambridge, MA, USA For his empirically founded interpretation of economic growth which has led to new and deepened insight into the economic and social structure and process of development Kuznets studied at…
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INDUSTRIALIZATION CREATES SUSTAINED GROWTH: THE EMERGENCE OF MODERN ECONOMIES
IN CONTEXT FOCUS Growth and development KEY THINKER Simon Kuznets (1901–85) BEFORE 1750s French economist François Quesnay states that wealth comes from agriculture, not from industry. 1940 British-Australian economist Colin Clark argues that economic growth involves a shift from agriculture to…
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Full text Article Sen, Amartya Kumar

From The Columbia Encyclopedia
1933–, Indian economist, b. Bengal, Ph.D. Cambridge, 1959. He has taught at Jadavpur Univ., Kolkata (1956–58), the Univ. of Delhi (1963–7l), the London School of Economics (197l–77), Oxford (1977–88), and Harvard (1987–98, 2003–) and was the Master of Trinity College, Cambridge (1998–2003). A…
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Full text Article Prescott, Edward Christian

From The Columbia Encyclopedia
1940–, American economist, b. Glen Falls, N.Y., Ph.D. Carnegie Mellon Univ., 1967. Prescott has taught at Carnegie Mellon (1971–80), the Univ. of Minnesota (1980–98, 1999–2003), Arizona State Univ. (2003–), and other institutions. He also has been a senior adviser to the Research Dept., Federal…
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Full text Article National Bureau of Economic Research

From The Oxford Encyclopedia of American Business, Labor, and Economic History
The National Bureau of Economic Research (NBER) was founded in January 1920 and quickly became regarded as one of the leading research organizations in economics in the world, a reputation that it has never lost. The NBER began with Wesley Mitchell as director of research, a small research staff, …
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Year Recipient(s) 1969 Ragnar Frisch Jan Tinbergen 1970 Paul A. Samuelson 1971 Simon Kuznets 1972 Sir John R. Hicks Kenneth J. Arrow 1973 Wassily Leontief 1974 Gunnar Myrdal Friedrich A. von Hayek 1975 Leonid V. Kantorovich Tjalling C. Koopmans 1976 Milton Friedman 1977 James E. Meade Bertil Ohlin…
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Full text Article Tinbergen, Jan

From Britannica Concise Encyclopedia
(born April 12, 1903, The Hague, Neth.—died June 9, 1994, Netherlands) Dutch economist noted for his development of econometric models. For 40 years (1933–73) he taught at the Netherlands School of Economics. As economic adviser to the League of Nations (1936–38), he studied the economic development…
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Full text Article War Production Board (WPB)

From Gale Encyclopedia of U.S. Economic History
The federal War Production Board (WPB) was an executive branch office in charge of mobilizing the U.S. economy for World War II (1939–45). Established within the Office for Emergency Management on January 16, 1942, the WPB was a civilian body with the power to obtain financing, enter contracts for…
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Full text Article Economic Growth and Income Patterns

From The Oxford Encyclopedia of American Business, Labor, and Economic History
Growth is the dominant paradigm that economists use to understand long-term economic improvement. The term generally refers to intensive growth, broadly defined as the material increase in standard of living or wealth per person, as opposed to extensive growth, the absolute increase in land, …
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