Simon Smith Kuznets

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Simon Smith Kuznets (1971)

Simon Kuznets ( Russian Семён Абрамович Кузнец , Semyon Abramovich kusnez ; born April 17, jul. / 30th April  1901 greg. In Pinsk , Russian Empire , † 8. July 1985 in Cambridge , Massachusetts ) was an American economist of Russian Jewish origin . In 1971 he received the prize for economics donated by the Swedish Reichsbank in memory of Alfred Nobel .

Life

Kuznets began his studies at the University of Kharkiv , where he a. a. dealt with Joseph Schumpeter's model of economic cycles. Due to the Russian Civil War , which also severely restricted studies at the university, the Kuznets family emigrated to the USA in 1922. He continued his studies at Columbia University , where he obtained a Bachelor of Science degree in 1923, a Master of Arts in 1924 with a thesis on Schumpeter and a Ph.D. in 1926 with an investigation into price developments. acquired.

Kuznets introduced the concept of the gross national product and dealt with economic statistics to determine economic performance and economic history . He discovered the 15 to 20 year business cycle in the economic growth of industrialized countries .

In 1925/26 Simon Kuznets was a researcher at the Social Science Research Council in New York , and from 1927 to 1960 at the National Burneau of Economic Research . From 1931 to 1954 he was Professor of Economic Statistics at the University of Pennsylvania in Philadelphia . In 1954, Kuznets was the American Economic Association as president-elect before. In 1948 he was elected to the American Philosophical Society and in 1955 to the American Academy of Arts and Sciences . After working in Philadelphia, he held a professorship at Johns Hopkins University in Baltimore until 1960 and a professorship in political economy at Harvard University in Cambridge until 1971 . In 1972 Kuznets became a member of the National Academy of Sciences . Since 1971 he has been a corresponding member of the British Academy .

Kuznet's Analysis of Income and Consumption

In 1946, Kuznets examined the consumer behavior of US citizens and questioned Keynes' absolute consumption hypothesis in the long term. His short-term analysis was based on a cross-sectional analysis of different income brackets over a business cycle. The result here confirmed Keynes' hypothesis that the higher the income, the lower the consumption rate; H. Additional money earned is only partially used for consumption.

His long-term study was based on a period of 30 years and contradicted Keynes, who assumed that consumption would increase with income in the long and short term. Kuznets determined a constant average consumption with increasing income, i. H. According to Kuznets, the consumption rate falls with higher income, additional income is only saved. This hypothesis of Kuznets is highly controversial among economists.

Works

  • Secular movements in production and prices , 1930
  • Nature and meaning of the trend. On the theory of the secular movement , with a preface by Eugen Altschul, K. Schroeder, Bonn 1930
  • Shares of Upper Income Groups in Income and Savings , National Bureau of Economic Research, New York 1950
  • Capital in the American Economy: Its Formation and Financing , 1961
  • Modern economic growth , 1966

See also

Web links

Individual evidence

  1. ^ American Economic Association Past Presidents. Accessed March 19, 2018 (English).
  2. ↑ Member History: Simon Kuznets. American Philosophical Society, accessed December 14, 2018 .
  3. ^ Deceased Fellows. British Academy, accessed June 24, 2020 .
personal data
SURNAME Kuznets, Simon Smith
ALTERNATIVE NAMES Kuznets, Semyon Abramovich; Кузнец, Семён Абрамович (Russian)
BRIEF DESCRIPTION American economist and Nobel Prize winner
DATE OF BIRTH April 30, 1901
PLACE OF BIRTH Pinsk , Russian Empire
DATE OF DEATH July 8, 1985
Place of death Cambridge , Massachusetts