Nicholas Kaldor died at Papworth Hospital near Cambridge on 30 September 1986, aged 78. The Hungarian-born economist had spent most of his career in Britain and became influential in both academic economics and government policy.

Born in Budapest in 1908, Kaldor came to Britain to study at the London School of Economics. He later taught there and became a British citizen in 1934. After the Second World War, he moved to Cambridge, became a fellow of King’s College, and eventually became Professor of Economics.

Kaldor made important contributions to welfare economics, economic growth and Keynesian economics. His work also took him beyond universities.

From the 1960s he advised Labour governments and worked with chancellors including James Callaghan, Roy Jenkins and Denis Healey. He argued for policies intended to encourage manufacturing and economic growth and was closely involved in debates over taxation.

In 1974 he was made a life peer as Baron Kaldor of Newnham in the City of Cambridge.

Kaldor remained involved in economic debate late in his life and became a strong critic of monetarist policies. His career placed him close to both the development of economic theory and its application by British governments.