Abstract
The British economy in wartime had been planned and some in the 1930s and 1940s also admired the Soviet model. Many authors, including Hayek, Robbins Durbin and Franks, had written about the future of top-down control. Meade’s proposal was a mix. There was no case for an imperative plan. Prices and quantities should be determined by supply and demand. Since, however, information and coordination are always problematic where decisions are decentralised, there is a need in a market economy for an indicative plan that would reduce wasteful duplication and minimise supply-chain inconsistency. Although control is undesirable, grants and concessions would provide a useful nudge.
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References
Books by James E. Meade
An Introduction to Economic Analysis and Policy. 1937 [1936]. (EAP), 2nd edn. Oxford: Oxford University.
Planning and the Price Mechanism. 1948. (PPM). London: Allen and Unwin.
The Stationary Economy: Principles of Political Economy, vol. I. 1965. (SE). London: Allen and Unwin.
The Growing Economy: Principles of Political Economy, vol. II. 1968. (GE). London: Allen and Unwin.
The Controlled Economy: Principles of Political Economy, vol. III. 1971. (CE). London: Allen and Unwin.
The Intelligent Radical’s Guide to Economic Policy: The Mixed Economy. 1975. (IR). London: Allen and Unwin.
Liberty, Equality and Efficiency: Apologia pro Agathotopia Mea. 1993. (LEE). Basingstoke: Macmillan.
Papers by James E. Meade
MP The Meade Papers, in the Archives Room of British Library of Political and Economic Science, London School of Economics.
A Selection of Meade’s Papers Have Been Reprinted in Howson, S. and D.E. Moggridge, eds., The Collected Papers of James Meade (CP), Vol. I: Employment and Inflation (1988), Vol. II: Value, Distribution and Growth (1990), Vol. III: International Economics (1988) and Vol. IV: The Cabinet Office Diary 1944–46 (1990) (Jointly ed. with D. Moggridge). London: Unwin Hyman. Reprinted papers are cited from this collection. Volume III, pp. 388–405, contains a full bibliography of the published writings of James Meade up to 1988.
The following is cited in the text and not reprinted in the Collected Papers:
Meade, J.E. 1968. Is “The New Industrial State” Inevitable? Economic Journal 75: 372–392.
Secondary Literature
Franks, O. 1947. Central Planning and Control in War and Peace. London: Longmans.
Jewkes, J. 1948. Ordeal by Planning. London: Macmillan.
Kahn, R.F. 1949. Professor Meade on Planning. Economic Journal 59: 1–16.
Robbins, L. 1937. Economic Planning and International Order. London: Macmillan.
———. 1947. The Economic Problem in Peace and War: Some Reflections on Objectives and Mechanisms. London: Macmillan.
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Reisman, D. (2018). Economic Planning. In: James Edward Meade . Great Thinkers in Economics. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-69281-4_11
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DOI: https://doi.org/10.1007/978-3-319-69281-4_11
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