Simon Kuznets

DEFINITION of 'Simon Kuznets'

A Russian-American economist and statistician who won the 1971 Nobel Memorial Prize in Economic Sciences for his research on economic growth. He also set the standard for economic research on national income, computing GNP for the United States all the way back to 1869. His measurements of savings, consumption and investment contributed to Keynesian economics and to econometrics. Kuznets also analyzed trade cycles that are referred to as "Kuznets cycles."

BREAKING DOWN 'Simon Kuznets'

Kuznets was born in Ukraine in 1901. He earned his Ph.D. from Columbia University and was a professor of economics and statistics at the University of Pennsylvania, a professor of political economy at Johns Hopkins and a professor of economics at Harvard. He died in 1985 in Cambridge, Mass.

RELATED TERMS
  1. Amartya Sen

    An internationally renowned economist who is a professor of economics ...
  2. Richard Stone

    Richard Stone is a British economist who won the 1984 Nobel Memorial ...
  3. Robert W. Fogel

    An American economic historian and scientist who won the 1993 ...
  4. Lawrence Klein

    An American economist and winner of the 1980 Nobel Memorial Prize ...
  5. Nobel Memorial Prize In Economic ...

    A prestigious award acknowledging outstanding contributions to ...
  6. Ronald H. Coase

    A British economist who won the 1991 Nobel Memorial Prize in ...
Related Articles
  1. Economics

    What's the GNP?

    Gross national product (GNP) is one of many metrics economists use to measure a country’s economic output. For any one year, GNP equals the market value of all the goods and services produced ...
  2. Term

    The Functional Difference Between GDP and GNP

    Both gross domestic product and gross national product try to measure the market value of all goods and services an economy produces.
  3. Professionals

    Get An Academic Finance Career

    Working nine months a year and earning a six-digit salary might seem like the high life, but these jobs are not easy to come by.
  4. Economics

    Why Can't Economists Agree?

    There are many reasons why economists can be given the same data and come up with entirely different conclusions.
  5. Bonds & Fixed Income

    Can Keynesian Economics Reduce Boom-Bust Cycles?

    Learn about a British economist's proposed solution to a common economic problem.
  6. Economics

    Is Infinite Economic Growth on a Finite Planet Possible?

    While the finite nature of Earth's resources limits the direction of economic growth, it does not mean that infinite economic growth is impossible.
  7. Personal Finance

    Columbia University $45,290

    These private colleges have the highest tuitions.
  8. Economics

    Business Cycle

    The business cycle refers to the fluctuations in economic activity that an economy experiences over a period of time. It consists of expansions, or periods of economic growth, and contractions, ...
  9. Professionals

    Economics and The Time Value of Money

    Economics and The Time Value of Money
  10. Economics

    The History Of Economic Thought

    Economics is a vital part of every day life. Discover the major players who shaped its development.
RELATED FAQS
  1. What is the formula for calculating gross national product (GDP)?

    Find out how to calculate a country's gross national product (GNP), which is a method of accounting for the total income ... Read Answer >>
  2. When do economists use GNP?

    Learn about the ways economists use GNP. Find out how the Bureau of Economic Analysis monitors U.S. economic performance ... Read Answer >>
  3. Is GNP a valuable metric in a globalized economy?

    Learn about the value of GNP in a globalized economy and find out what information GNP can provide to policymakers and business ... Read Answer >>
  4. What is the functional difference between GDP and GNP?

    Find out the difference between GDP and GNP, and how each brings a different perspective to the meaning of economic success. Read Answer >>
  5. What insights are economists trying to capture with GNP?

    Learn how, despite its disfavor as a primary economic indicator, GNP provides special insight into the value of production ... Read Answer >>
  6. What does GNP say about the balance of trade?

    Learn about the interaction of GNP and the balance of trade. Find out how GNP is structured and the role that the balance ... Read Answer >>
Hot Definitions
  1. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  2. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  3. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  6. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
Trading Center