Kaldor´s 1939 paper

["Esteban Perez" <eperez@xxxxxxxxxxxx>]

1.	Kaldor does not mention any correspondence with Keynes regarding Speculation and Economic Stability (1939). But does mention reactions by Robertson and Kahn among others. See, Introduction (1960) to Vol. II Collected Economic Essays. Tony Thirlwall in his biography of Kaldor (1987) states p.75 note 46: ¨the paper was relatively neglected, perhaps becuase it coincided with the publication of Hicks´ Value and Capital. On re-reading the paper in 1986, Hicks wrote to Kaldor: ¨I think that your paper was the culmination of the Keynesian Revolution in theory. You ought to have had more honour for it.¨ Perhaps I am mistaken but Skidelski Vol. 3 does not mention the article. In 1939-1940, the correspondence between Keynes and Kaldor was in reference to the measurement of national income and output.

2.	The 1939 paper had an appendix which later appeared as a separate essay in 1960: Keynes´ Theory of the Own-Rates  of Interest.

3.	Kaldor´s 1937 paper: Pigou on Money Wages and employment in relation to unemployment (reprinted as an appendix in Vol. II of his Essays), did lead to an exchange with Keynes and this is mentioned in Skidelsky (vol. 2). Pigou attributed the Keynes effect to Kaldor. Keynes response: ´Kaldor is mainly a re-statement of my General Theory...read over again chapter 19 of my book together with the appendix. This is the source of the theory that the effect of changes in money wages on employment ina closed system is throught the rate of interest...´´ Vol. 14. CW, p, 267.