485. Harrod to N. Kaldor , 10 October 1935 [a]

[Replies to a letter not found]

51, Campden Hill Square, W. 8. #

10 October 1935

My dear Kaldor

I have a great sense a guilt about a letter of yours which I never answered. [1] But I was quite incredibly busy from the date of its receipt until the beginning of August, and then I had the feeling that you would no longer be available. Am I wrong in supposing you are in some distant place? I hope you will take up the question of subsidies again on your return. [2]

I have been studying Keynes' new system of thought, which is very interesting, and I must try to give my mind to its relation, if true, to the question of subsidies. I feel I now understand what he has to say--which I fear many of his readers wont. The next question is--are there any valid objections? I feel that a strong committee ought to be formed to study that point also. [3] I hope you are having a profitable time in the U.S.--(if you are in the U.S.! [4] )

Yours sincerely

Roy Harrod

  1. 1. At the end of May 1935, Kaldor submitted to the attention of a number of economists (including Joan Robinson, Piero Sraffa, and Hugh Gaitskell) a plan to relieve unemployment based on a system of subsidies (a draft of the plan and the relevant correspondence are filed in NKP NK/1/9). Judging from the content of this letter, it would seem likely that a further copy was sent to Harrod (this, however, was not found among Harrod's papers).

    2. A paper with Kaldor's proposal was read before the December 1935 meeting of the Econometric Society in New York, and later published in Journal of Political Economy, December 1936 as "Wage Subsidies as a Remedy for Unemployment".

    3. Harrod advanced the same suggestion in correspondence with Robertson: see letter 477 , [jump to page] .

    4. Kaldor was benefiting from a Rockefeller fellowship enabling him to study in the United States for one year beginning from October 1935.

    1. a. ALS, two pages on one leaf, in NKP NK/3/97/2-3.

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