Abstract
This article explains the part that Meade played in the creation of Keynes’s General Theory, describes his work with Keynes during the Second World War in the creation of the IMF and the GATT, and summarizes the ideas in The Theory of International Economic Policy for which Meade was awarded the Nobel Prize in 1977. It also sets out the role that Meade played in the construction of the inflationtargeting regime which became the centrepiece of British macroeconomic policymaking in the 1990s.
Keywords
- Absorption approach to the balance of payments
- Aggregate demand
- Balance of payments
- Brain drain
- Chamberlin, E. H.
- Compensation principles
- Consumer surplus
- Control theory
- Demand management
- Devaluation
- Domestic distortions, theory of
- Double-entry national accounts
- Dutch Disease
- Elasticities approach to the balance of payments
- Exchange rate mechanism (ERM)
- Factor trade
- Fiscal policy
- Fixprice models
- Fleming, J. M.
- Foreign direct investment
- Friedman, M.
- Harrod, R. F.
- Harrod–Domar growth model
- Heckscher–Ohlin trade theory
- Hicks, J. R.
- Imperfect competition
- Imperial preference
- Income–expenditure theory
- Incomes policy
- Inflation
- Inflation targeting
- Institute of Fiscal Studies (UK)
- Interest rates
- International policy coordination
- International trade theory
- IS–LM models
- Johnson, H. G.
- Kahn, R. F.
- Kalecki, M.
- Kay, J.
- Keynes, J. M.
- Keynesian Revolution
- King, M.
- Marshall, A.
- Meade, J. E.
- Monetarism
- Monetary policy
- Monetary theory of the balance of payments
- Money multiplier
- Money supply
- Multinational corporations
- Multiplier
- Multivariable control methods
- Mundell–Fleming model
- National income accounting
- New Keynesian macroeconomics
- New welfare economics
- Nominal-income targeting
- Non-accelerating inflation rate of unemployment (NAIRU)
- Open-economy macroeconomics
- Optimal savings rate
- Optimum population
- Phillips curve
- Phillips, A. W. H.
- Potential welfare
- Profit sharing
- Protection
- Ramsey model
- Regional free-trade areas
- Robbins, L. C.
- Robertson, D.
- Robinson, E. A. G.
- Robinson, J. V.
- Saving and investment
- Second best
- Sidgwick, H.
- Social security
- Sraffa, P.
- Stabilization bias
- Sterilization
- Sticky wages
- Stocks and flows
- Stolper–Samuelson theorem
- Stone, J. R. N.
- Supply side reform
- Taylor rules
- Taylor, J.
- Terms of trade
- Tinbergen, J.
- Tobin’s q
- Trade creation and trade diversion
- Unemployment
- Wage fixing
JEL Classifications
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Bibliography
Alexander, S. 1952. The effects of a devaluation on a trade balance. IMF Staff Papers 2: 263–278.
Allsopp, C., and D. Vines. 2005. The macroeconomic role of fiscal policy. Oxford Review of Economic Policy 21: 485–508.
Atkinson, A. 1996. James Meade’s vision: Full employment and social justice. National Institute Economic Review 157 (July): 90–97.
Atkinson, A., and M. Weale. 2000. James Meade: A memoir. In 1999 Lectures and Memoirs. London: Published for the British Academy by Oxford University Press.
Barro, R., and D. Gordon. 1983. A positive theory of monetary policy in a natural rate model. Journal of Political Economy 91: 589–610.
Bean, C. 1998. The new UK monetary arrangements: A view from the literature. Economic Journal 108: 1795–1809.
Bhagwati, J., and V.K. Ramaswami. 1963. Domestic distortions, tariffs, and the theory of optimum subsidy. Journal of Political Economy 71: 44–50.
Brigden, J., D. Copeland, E. Dyason, L. Giblin, and C. Wickens. 1929. The Australian tariff: An economic enquiry. Melbourne: Melbourne University Press.
Corden, W.M. 1984. Booming sector and Dutch disease economics: Survey and consolidation. Oxford Economic Papers 36: 359–380.
Corden, W.M. 1996a. Special profile: James Meade, 1907–1995. Review of International Economics 4: 382–386.
Corden, W.M. 1996b. James Meade 1907–1995. Economic Record 72: 172–174.
Corden, W.M., and A. Atkinson. 1979. Meade James E. In International enyclopaedia of the social sciences bibliographical supplement, ed. D.L. Sills, vol. 18. New York: Free Press; London: Macmillan.
Dixit, A., and J. Stiglitz. 1977. Monopolistic competition and optimum product diversity. American Economic Review 57: 297–308.
Durbin, E. 1985. New Jerusalems. London: Routledge & Kegan Paul.
Fleming, J.M. 1951. On making the best of balance of payments restrictions on imports. Economic Journal 61: 48–71.
Fleming, J.M. 1962. Domestic financial policies under fixed and under floating exchange rates. IMF Staff Papers 9: 369–379.
Friedman, M. 1953. The effects of a full employment policy on economic stability: A formal analysis. In Essays in Positive Economics. Chicago: Chicago University Press.
Friedman, M. 1968. The role of monetary policy. American Economic Review 58: 1–17.
Garnaut, R. 2005. Is macroeconomics dead? Monetary and fiscal policy in historical context. Oxford Review of Economic Policy 21: 524–531.
Gordon, R. 1990. What is new Keynesian economics? Journal of Economic Literature 28: 1115–1171.
Greenaway, D. 1990. The intelligent radical on economic policy: An essay on the work of James Meade. Scottish Journal of Political Economy 37: 288–298.
Gregory, R. 1976. Some implications of the growth of the mineral sector. Australian Journal of Agricultural Economics 20 (2): 71–91.
Hall, R., and G. Mankiw. 1993. Nominal income targeting, NBER Working paper no 4439, Published in Monetary Policy, ed. G. Mankiw. Chicago: University of Chicago Press, 1994.
Harberger, A.C. 1950. Currency depreciation, income and the balance of trade. Journal of Political Economy 58: 47–60.
Harcourt, G.C. 1982. In The social science imperialists: Selected Essays, ed. P. Kerr. London: Routledge & Kegan Paul.
Harcourt, G.C. 1985. Meade, James (1907–). In The social science encyclopaedia, ed. A. Kuper and J. Kuper. London: Routledge & Kegan Paul.
Harrod, R.F. 1933. International economics. London: Nisbet.
Hicks, J. 1937. Mr Keynes and the classics: A suggested simplification. Econometrica 5: 147–159.
Howson, S. 2000. James Meade. Economic Journal 110: 122–145.
Johnson, H.G. 1951. The taxonomic approach to economic policy. Economic Journal 61: 812–832.
Johnson, H.G. 1965. Optimal trade intervention in the presence of domestic distortions. In Trade growth and the balance of payments, ed. R. Baldwin. Amsterdam: North-Holland.
Johnson, H.G. 1978. James Meade’s contribution to economics. Scandinavian Journal of Economics 80: 64–85.
Kahn, R. 1931. The relation of home investment to unemployment. Economic Journal 41: 173–198.
Kahn, R. 1984. The making of Keynes’ general theory. Cambridge: Cambridge University Press.
Keynes, J.M. 1930. A treatise on money. London: Macmillan.
Keynes, J.M. 1936. The general theory of employment, interest and money. London: Macmillan.
Keynes, J.M. 1939. Relative movements of real wages and output. Economic Journal 49: 34–51.
Keynes, J.M. 1940. How to pay for the war. Repr. in Keynes (1971–88, vol. 9). London: Macmillan.
Keynes, J.M. 1971–88. The collected writings of John Maynard Keynes. London: Macmillan.
Kirsanova, T., J. Stehn, and D. Vines. 2005. The interactions between fiscal policy and monetary policy. Oxford Review of Economic Policy 21: 532–564.
Kydland, F.E., and E.C. Prescott. 1978. Rules rather than discretion. Journal of Political Economy 84: 473–491.
Laursen, S., and L. Metzler. 1950. Flexible exchange rates and the theory of employment. Review of Economics and Statistics 32: 281–299.
Layard, R. 1986. How to beat unemployment. Oxford: Oxford University Press.
Layard, R., S. Nickell, and R. Jackman. 1991. Unemployment: Macroeconomic performance and the labour market. Oxford: Oxford University Press.
Leiderman, L., and L. Svensson, eds. 1995. Inflation targets. London: CEPR.
Minister of Reconstruction. 1944. Employment policy. Cmd. 6527. London: HMSO.
Mundell, R.A. 1962. The appropriate use of fiscal and monetary policy for internal and external stability. IMF Staff Papers 9: 70–77.
Phillips, C. 1920. Bank Credit. New York: Macmillan.
Phillips, A.W. 1950. Mechanical models in economic dynamics. Economica 17: 283–305.
Phillips, A.W. 1954. Stabilization policy in a closed economy. Economic Journal 64: 290–323.
Phillips, A.W. 1957. Stabilization policy and the time form of lagged responses. Economic Journal 67: 265–277.
Robinson, J. 1937. The foreign exchanges. In Essays in the theory of employment. London: Macmillan. 2nd ed., 1947.
Rowthorn, R. 1977. Conflict, inflation and money. Cambridge Journal of Economics 1: 215–239.
Samuelson, P. 1948. Economics. New York: McGraw Hill.
Shackle, G.L.S. 1967. The years of high theory. Cambridge: Cambridge University Press.
Skidelsky, R. 1983. John Maynard Keynes: Hopes Betrayed 1883–1920. London: Macmillan.
Skidelsky, R. 2000. John Maynard Keynes: Fighting for Britain 1937–1946. London: Macmillan.
Solow, R.M. 1956. A contribution to the theory of economic growth. Quarterly Journal of Economics 70: 65–94.
Solow, R.M. 1987. James Meade at eighty. Economic Journal 97: 986–988.
Swan, T.W. 1956. Economic growth and capital accumulation. Economic Record 32: 334–361.
Swan, T. 1963. Longer run problems of the balance of payments. In The Australian economy, ed. H.W. Arndt and W.M. Corden. Melbourne: Cheshire. Repr. in Readings in international economics, ed. R. Caves and H. Johnson. Homewood: Irwin, 1968.
Taylor, J. 1994. Macroeconomic policy in a world economy: From econometric design to practical operation. New York: Norton.
Van Dormael, A. 1978. Bretton Woods: Birth of a monetary system. London: Macmillan.
Viner, J. 1950. The customs union issue. New York: Carnegie Institute for International Peace.
Vines, D. 1987. Meade James Edward. In The new palgrave: A dictionary of economics, ed. J. Eatwell, M. Milgate, and P. Newman, vol. 3. London: Macmillan.
Vines, D. 1994. Unfinished business: Australian protectionism, Australian trade liberalisation and APEC. Shann Memorial Lecture, University of Western Australia. In Australian macroeconomic policy debates: Contributions from the Shann memorial lectures, 1991–2000, ed. P.L. Crompton. Perth: University of Western Australia Press, 2005.
Vines, D. 1996. The Phillips machine. In A.W. Phillips: Collected writings in contemporary perspective, ed. R. Leeson. Cambridge: Cambridge University Press.
Vines, D. 2003. John Maynard Keynes, 1937–1946: The creation of international macroeconomics. Economic Journal 113: F338–F361.
Weitzman, M. 1984. The share economy. Cambridge, MA: Harvard University Press.
Williamson, J. 1983a. Keynes and the international economic order. In Worswick and Trevithick (1983).
Williamson, J. 1983b. The exchange rate system. Washington, DC: Institute for International Economics.
Wilson, T. 1982. Planning for the war and for the peace. In Keynes as a policy adviser, ed. A.P. Thirlwall. London: Macmillan.
Woodford, M. 2003. Interest and prices. Princeton: Princeton University Press.
Worswick, D., and D. Trevithick, eds. 1983. Keynes and the modern world. Cambridge: Cambridge University Press.
Young, W. 1987. Interpreting Mr Keynes: The IS/LM Enigma. Cambridge: Polity Press.
Author information
Authors and Affiliations
Editor information
Copyright information
© 2018 Macmillan Publishers Ltd.
About this entry
Cite this entry
Vines, D. (2018). Meade, James Edward (1907–1995). In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1165
Download citation
DOI: https://doi.org/10.1057/978-1-349-95189-5_1165
Published:
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-95188-8
Online ISBN: 978-1-349-95189-5
eBook Packages: Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences