James Meade: Interest

“The great majority of politicians and other interested persons tend to…. concentrate on…. measures such as education and training of labour and investment in modern efficient capital equipment…. These reforms are of extreme importance but they are concerned basically with raising the output per head of those who are in employment rather than about the number of heads that will find suitable employment.”

James Meade

James Meade, Full Employment Regained? An Agathotopian Dream, Cambridge University Press, Cambridge, (1995), p. xvii; As cited in: O'higgins, Niall. "The challenge of youth unemployment." International Social Security Review 50.4 (1997): p. 89

Education , Personality , Training

“My interest in economics had the following roots. Like many of my generation I considered the heavy unemployment in the United Kingdom in the inter-war period as both stupid and wicked. Moreover, I knew the cure for this evil, because I had become a disciple of the monetary crank, Major C. H. Douglas, to whose works I had been introduced by a much loved but somewhat eccentric maiden aunt. But my shift to the serious study of economics gradually weakened my belief in Major Douglas's A+B theorem, which was replaced in my thought by the expression MV = PT.”

James Meade

"James E. Meade - Biographical," 1977

Love , War , Stupidity , Study

“On principle i relative prices will be lowered in the interests of external balance and domestic expenditure will be inflated in the interests of internal balance. Internal balance will be very quickly restored although there is no net change in external balance. Relative prices must, therefore, continue to be lowered, which will tend now to produce a boom at home. The inflationary financial policy must, therefore, be replaced by a deflationary policy. In the end relative prices will be substantially lowered, while there may be a small net inflation or deflation of domestic expenditure by financial policy.”

James Meade

Source: The balance of payments, 1951, p. 160; As cited in: Metaxas & Weber (2013, p. 22)

Home , Change

“A good book on the subject of the customs union has for long been wanted; and now it is provided by Professor Viner's study, which it is difficult to praise too highly…. Professor Viner's study on the economic aspects of customs unions will be of central interest to economists. Indeed for many years this is likely to remain the locus classicus for the economic analysis of customs-union problems.”

James Meade

James Meade, "The Removal of Trade Barriers: The Regional versus the Universal Approach." Economica (1951). p. 186-7. Cited in: Jacob Viner, ‎Paul Oslington (2014) The Customs Union Issue. p. xxxi

Books , Problem , Study

“We assume…that the banking system must be prepared to expand (or contract) the total supply of money to the extent necessary to prevent any scarcity (or plenty) of funds in the capital market which may be induced by any other disturbing factor, from causing a rise (or fall) in interest rates”

James Meade

James Meade (1951), The theory of international economic policy, Vol. 1, p. 48; as cited in: Jacques Jacobus Polak (2001) The Two Monetary Approaches to the Balance of Payments, p. 13

Money