The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Verdoorn’s Law

  • J. S. L. McCombie
Reference work entry


One of the most notable features of the postwar economic performance of the advanced countries has been the substantial and persistent differences between the various economies in their rates of growth of productivity and output. Yet these disparities are merely one aspect of the more general picture of economic development. Since the beginning of the Industrial Revolution, at which time there appears to have been little variation between areas in terms of per capita income, some countries have achieved a sustained growth in productivity whilst others have shown little or no improvement. The reasons for this, of course, remain a source of controversy.

This is a preview of subscription content, log in to check access.


  1. Clark, C. 1957. The conditions of economic progress, 3rd ed. London: Macmillan.Google Scholar
  2. Cornwall, J. 1977. Modern capitalism: Its growth and transformation. London: Martin Robertson.Google Scholar
  3. Kaldor, N. 1966. Causes of the slow rate of economic growth of the United Kingdom: An inaugural lecture. Cambridge: Cambridge University Press.Google Scholar
  4. Kaldor, N. 1978a. Further essays on economic theory. London: Duckworth.Google Scholar
  5. Kaldor, N. 1978b. Further essays on applied economics. London: Duckworth.Google Scholar
  6. Lamfalussy, A. 1963. The United Kingdom and the Six. An essay on economic growth in Western Europe. London: Macmillan.Google Scholar
  7. Myrdal, G. 1957. Economic theory and underdeveloped regions. London: Duckworth.Google Scholar
  8. Rowthorn, R.E. 1975. What remains of Kaldor’s Law? Economic Journal 85: 10–19.CrossRefGoogle Scholar
  9. Salter, W.E.G. 1960. Productivity and technical change. Cambridge: Cambridge University Press.Google Scholar
  10. Smith, A. 1776. In An inquiry into the nature and causes of the wealth of nation, ed. E. Cannan. London: Methuen, 1961.CrossRefGoogle Scholar
  11. Thirlwall, A.P. (ed.). 1983. Symposium: Kaldor’s growth laws. Journal of Post Keynesian Economics: 5(3).Google Scholar
  12. Verdoorn, P.J. 1949. Fattori che regolano lo sviluppo della produttività del lavoro. L’Industria 1: 45–53.Google Scholar
  13. Verdoorn, P.J. 1980. Verdoorn’s Law in retrospect: A comment. Economic Journal 90: 382–385.CrossRefGoogle Scholar
  14. Young, A.A. 1928. Increasing returns and economic progress. Economic Journal 38: 527–542.CrossRefGoogle Scholar

Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • J. S. L. McCombie
    • 1
  1. 1.