Simon Kuznets


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Kuznets, Simon

 

Born Apr. 30, 1901, in Kharkov. American economist, doctor of economics (1926).

Kuznets graduated from Columbia University in 1923 and since 1930 has taught in a number of American universities. In 1960 he became a professor of economics at Harvard University. His statistical research contains extensive material describing the dynamics of the investment volume, the sectorial and technological structure of capital investments, the change in the capitalintensiveness of production, and the evolution of the capital accumulation rates in the United States and other capitalist countries over the last 100 years. The method he proposed for calculating national product, national income, and other indexes is used in the official reporting of the United States and a number of other capitalist countries.

Kuznets believes that the volume and distribution of investments and the level of the ratio between consumption and income are the basic factors in economic development. However, in stressing quantitative changes in the sphere of functioning capital, he overlooks the social factors that affect accumulation. Relying on specially selected data on the distribution of national income, Kuznets has endeavored to provide a statistical basis for the “revolution in income” that purportedly is occurring under modern capitalism in favor of the “lower” groups of the population. Kuznets’ definition of national income as the total of all income received within a year is invalid: because it includes all the secondary income of the nonproduction sphere, it overstates the amount of newly created value. He received the Nobel Prize for economics in 1971.

WORKS

Cyclical Fluctuations. New York, 1926.
National Income and Capital Formation. New York, 1937.
Shares of Upper Income Groups in Income and Savings. New York, 1953.
Postwar Economic Growth. Cambridge (Mass.), 1964.
Economic Growth and Structure. New York, 1965.
Economic Growth of Nations: Total Output and Production Structure. Cambridge (Mass.), 1971.

V. G. SARYCHEV

References in periodicals archive ?
Dating of modern growth phase based on Simon Kuznets, Economic growth of Nations: Total Output and Production Structure, Harvard University Press, 1971, p.
This paper seeks to analyze and test one of the most accepted theories on inequality, proposed by Simon Kuznets in 1955.
Even Simon Kuznets, the main architect of the concept of GDP, recognized that it does not account for many of the factors affecting human well-being; he argued that it should be used "only with some qualifications.
Simon Kuznets, the economist most responsible in the 1930s for the formation of the national accounts that provide the data for GDP, was always disturbed that domestic work, volunteer work and, of course, transactions in cash are invisible in GDP.
To add to the problem, several provinces are restive and the overall system lacks what economist Simon Kuznets called organic nationalism, pulling together groups separated by language and culture.
Economists such as Simon Kuznets, who developed "concepts of industrial feasibility and optimal production goals" to identify clearly the best estimates of production, ultimately saved the US much blood, treasure, resources, and time at war (7).
production capacity, led by statistician Stacy May, and the mobilization analysis, led by Simon Kuznets, was instrumental to the fruitfulness of these discussions.
The framework, which was developed by Simon Kuznets (an accomplishment which earned him the 1971 Nobel Prize in Economics), enabled the team of economists responsible for ramping industrial activity toward military ends--a team which also included Robert Nathan and Stacey May--to make plausible estimates of economic magnitudes; to assess the feasibility of the "wish-list" and "must-need" items identified by military strategists; and to make recommendations about the allocation of scarce resources to competing channels and the sequencing of production activities.
En el primero de ellos, se examina las distintas posturas mantenidas en torno a la relacion entre crecimiento y distribucion de la renta en la historia del pensamiento economico, subrayando la importancia de tesis como la de Simon Kuznets, que considera la existencia de una relacion de incompatibilidad tendente a compatibilidad entre ambos objetivos, o el referido posicionamiento de economistas clasicos como John Stuart Mili, justificando la desigualdad en la distribucion como requisito para el crecimiento.
An appendix outlining the work of Simon Kuznets on capital and the American economy is included.
La curva de Kuznets es una representacion grafica de la hipotesis planteada por Simon Kuznets (1955), donde establece que la desigualdad economica se incrementa a lo largo del tiempo durante el periodo de desarrollo de un pais, posteriormente, tras cierto tiempo critico donde el promedio de ingresos se ha alcanzado, esta curva forma una U invertida que comienza a decrecer, tal como se representa en la figura 2.
In 1954 Simon Kuznets, an American economist of Russian origin and 1971 Nobel laureate, suggested a following idea: as per capita income in a given country increases, income unequality also increases, but after some turning point it starts declining.