The Sveriges Riksbank Prize inwards Economic Sciences inwards Memory of Alfred Nobel rootage started beingness given inwards 1969, the backlog of worthy economists who were deserving of the prize was real large. Thus, it was a considerable compliment when the 3rd Nobel prize given inwards economic science went to Simon Kuznets inwards 1971. Among other major contributions, Kuznets was i of the main contributors to thinking through the issues of constructing national income accounts together with GDP. But my focus hither is on a theory which grew out of his Presidential Address on "Economic Growth together with Income," delicvered to the American Economic Association inwards 1954 together with published inwards the March 1955 resultant of the American Economic Review. This lecture led economists to beak of a "Kuznets curve."
Here's a brusk explanation of the logic behind the Kuznets crease from Branko Milanovic inwards the
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