Richard Kahn, Baron Kahn
Encyclopedia
Richard Ferdinand Kahn, Baron Kahn, CBE
, FBA (10 August 1905 – 6 June 1989) was a British
economist.
Kahn was born in Hampstead
to Augustus Kahn, a German schoolmaster and an orthodox Jew, and Regina Schoyer. He raised in England
and was educated on St Paul's School, London
. Kahn received a Bachelor of Arts
in Physic in 1927 at King's College, Cambridge
, where he was placed in the second class of the Natural Science Tripos
. He was taught economics by Gerald Shove
and John Maynard Keynes
in 1927-28. In 1930, he was elected a Fellow
of King's College.
He worked in the Faculty of Economics and Politics from 1933. He became Director of Studies for economics students at King's in 1947, a post he held for four years. Kahn was appointed Professor
of Economics
in 1951, retiring in 1972.
Arguably, Kahn's most notable contribution to economics was his principle of the multiplier
. The multiplier is the relation between the increase in aggregate expenditure and the increase in net national product (output). It is the increase in aggregate expenditure (for example government spending) that causes the increase in output (or income).
Kahn was made a Commander
of the Order of the British Empire
in 1946 and became a Fellow of the British Academy
in 1960, and was created a life peer
with the title Baron Kahn, of Hampstead in the London Borough of Camden
on 6 July 1965.
Order of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
, FBA (10 August 1905 – 6 June 1989) was a British
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
economist.
Kahn was born in Hampstead
Hampstead
Hampstead is an area of London, England, north-west of Charing Cross. Part of the London Borough of Camden in Inner London, it is known for its intellectual, liberal, artistic, musical and literary associations and for Hampstead Heath, a large, hilly expanse of parkland...
to Augustus Kahn, a German schoolmaster and an orthodox Jew, and Regina Schoyer. He raised in England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
and was educated on St Paul's School, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
. Kahn received a Bachelor of Arts
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
in Physic in 1927 at King's College, Cambridge
King's College, Cambridge
King's College is a constituent college of the University of Cambridge, England. The college's full name is "The King's College of our Lady and Saint Nicholas in Cambridge", but it is usually referred to simply as "King's" within the University....
, where he was placed in the second class of the Natural Science Tripos
Tripos
The University of Cambridge, England, divides the different kinds of honours bachelor's degree by Tripos , plural Triposes. The word has an obscure etymology, but may be traced to the three-legged stool candidates once used to sit on when taking oral examinations...
. He was taught economics by Gerald Shove
Gerald Shove
-Life:Shove was born at Faversham, Kent, the son of Herbert Samuel Shove and his wife Bertha Millen. He was educated at Uppingham School and King's College, Cambridge, where he became a member of the Cambridge Apostles....
and John Maynard Keynes
John Maynard Keynes
John Maynard Keynes, Baron Keynes of Tilton, CB FBA , was a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics, as well as the economic policies of governments...
in 1927-28. In 1930, he was elected a Fellow
Fellow
A fellow in the broadest sense is someone who is an equal or a comrade. The term fellow is also used to describe a person, particularly by those in the upper social classes. It is most often used in an academic context: a fellow is often part of an elite group of learned people who are awarded...
of King's College.
He worked in the Faculty of Economics and Politics from 1933. He became Director of Studies for economics students at King's in 1947, a post he held for four years. Kahn was appointed Professor
Professor
A professor is a scholarly teacher; the precise meaning of the term varies by country. Literally, professor derives from Latin as a "person who professes" being usually an expert in arts or sciences; a teacher of high rank...
of Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
in 1951, retiring in 1972.
Arguably, Kahn's most notable contribution to economics was his principle of the multiplier
Multiplier (economics)
In economics, the fiscal multiplier is the ratio of a change in national income to the change in government spending that causes it. More generally, the exogenous spending multiplier is the ratio of a change in national income to any autonomous change in spending In economics, the fiscal...
. The multiplier is the relation between the increase in aggregate expenditure and the increase in net national product (output). It is the increase in aggregate expenditure (for example government spending) that causes the increase in output (or income).
Kahn was made a Commander
Commander
Commander is a naval rank which is also sometimes used as a military title depending on the individual customs of a given military service. Commander is also used as a rank or title in some organizations outside of the armed forces, particularly in police and law enforcement.-Commander as a naval...
of the Order of the British Empire
Order of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
in 1946 and became a Fellow of the British Academy
British Academy
The British Academy is the United Kingdom's national body for the humanities and the social sciences. Its purpose is to inspire, recognise and support excellence in the humanities and social sciences, throughout the UK and internationally, and to champion their role and value.It receives an annual...
in 1960, and was created a life peer
Life peer
In the United Kingdom, life peers are appointed members of the Peerage whose titles cannot be inherited. Nowadays life peerages, always of baronial rank, are created under the Life Peerages Act 1958 and entitle the holders to seats in the House of Lords, presuming they meet qualifications such as...
with the title Baron Kahn, of Hampstead in the London Borough of Camden
London Borough of Camden
In 1801, the civil parishes that form the modern borough were already developed and had a total population of 96,795. This continued to rise swiftly throughout the 19th century, as the district became built up; reaching 270,197 in the middle of the century...
on 6 July 1965.