Explain the growth model of Kaldor.
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Nicholas Kaldor in his essay titled A Model of Economic Growth, originally published in Economic Journal in 1957, postulates a growth model, which follows the Harrodian dynamic approach and the Keynesian techniques of analysis. In his growth model, Kaldor attempts "to provide a framework for relating the genesis of technical progress to capital accumulation", whereas the other neoclassical models treat the causation of technical progress as completely exogenous.
According to Kaldor, "The purpose of a theory of economic growth is to show the nature of non-economic variables which ultimately determine the rate at which the general level of production of economy is growing, and thereby contribute to an understanding of the question of why some societies grow so much faster than others."
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