“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

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James Meade15

British economist 1907–1995

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