Simon Kuznets

AAA

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."

INVESTOPEDIA EXPLAINS '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. Economist

    An expert who studies the relationship between a society's resources ...
  2. National Income Accounting

    A term used in economics to refer to the bookkeeping system that ...
  3. Econometrics

    The application of statistical and mathematical theories to economics ...
  4. Gross National Product - GNP

    An economic statistic that includes GDP, plus any income earned ...
  5. Laissez Faire

    An economic theory from the 18th century that is strongly opposed ...
  6. Macroeconomics

    The field of economics that studies the behavior of the aggregate ...
Related Articles
  1. Fundamental Analysis

    How Influential Economists Changed Our History

    Find out how these five groundbreaking thinkers laid our financial foundations.
  2. Austrian School of Economics, von Hayek
    Economics

    The Austrian School Of Economics

    Investopedia explains: If you think economists are only concerned with numbers, check out the Austrian School, who are more like economic philosophers.
  3. Economics

    The Uncertainty Of Economics: Exploring The Dismal Science

    Learning about the study of economics can help you understand why you face contradictions in the market.
  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. Forex Education

    Free Market Maven: Milton Friedman

    As proponent of free market capitalism, this economist changed the way the world's economies operate.
  6. Bonds & Fixed Income

    Can Keynesian Economics Reduce Boom-Bust Cycles?

    Learn about a British economist's proposed solution to a common economic problem.
  7. Active Trading

    Giants Of Finance: John Maynard Keynes

    This rock star of economics advocated government intervention at a time of free-market thinking.
  8. Personal Finance

    What is the average salary for an accountant?

    Learn about the average salaries of various accounting positions, and see the difference that an accounting degree makes in attaining higher wages.
  9. Fundamental Analysis

    Lognormal and Normal Distribution

    When and why do you use lognormal distribution or normal distribution for analyzing securities? Lognormal for stocks, normal for portfolio returns.
  10. Economics

    Where is cost of living lowest in the world?

    Learn how the cost of living is the lowest in India based on numbers derived from the CPI and organizations like Expatistan and Numbeo.

You May Also Like

Hot Definitions
  1. Christmas Island Dollar

    The former currency of Christmas Island, an Australian island in the Indian Ocean that was discovered on December 25, 1643. ...
  2. Santa Claus Rally

    A surge in the price of stocks that often occurs in the week between Christmas and New Year's Day. There are numerous explanations ...
  3. Commodity

    1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often ...
  4. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  5. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  6. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
Trading Center