James Meade

James Edward Meade, CB, FBA (23 June 1907 – 22 December 1995) was a British economist and winner of the 1977 Nobel Memorial Prize in Economic Sciences jointly with the Swedish economist Bertil Ohlin for their "pathbreaking contribution to the theory of international trade and international capital movements."

Meade was born in Swanage, Dorset. He was educated at Malvern College and attended Oriel College, Oxford in 1926 to read Greats, but switched to Philosophy, Politics and Economics and gained an outstanding first. His interest in economics grew from an influential postgraduate year at Christ's College, Cambridge and Trinity College, Cambridge (1930–31), where he held frequent discussions with leading economists of the time including Dennis Robertson and John Maynard Keynes.

After working in the League of Nations and the Cabinet Office, he was the leading economist of the early years of Attlee's government, before taking professorships at LSE (1947–57) and Cambridge (1957–67).

James E. Meade
James Meade Nobel
Born23 June 1907
Died22 December 1995 (aged 88)
NationalityBritish
InstitutionLondon School of Economics
FieldMacroeconomics
School or
tradition
Neo-Keynesian economics
Alma materOriel College, Oxford
Christ's College, Cambridge
Malvern College
Doctoral
students
Jacques Parizeau
InfluencesJohn Maynard Keynes
ContributionsTheory of international trade and international capital movements
AwardsNobel Memorial Prize in Economic Sciences (1977)
Information at IDEAS / RePEc

Early life and education

Meade was brought up in the city of Bath, Somerset in south-west England. He attended the Lambrook school in Berkshire from 1917 to 1921, where his education revolved around the Greek and Latin languages. In his time in Oriel College, Oxford, Meade switched at the end of his second year from Greats to Philosophy, Politics and Economics which was a very new concept at that time having started only in 1921. Meade's interest in economics grew due to various reasons.

He considered the heavy unemployment in the United Kingdom in the inter-war period as a menace and a social evil. His association with Major C. H. Douglas, to whom he was introduced to by his aunt, helped him come up with a cure for this evil.

In 1930 Meade was elected to a fellowship at Hertford College, Oxford. There he received the option of continuing his study of economics as a post graduate student. In 1930–31 Meade joined Trinity College, Cambridge after being invited to do so by Dennis Robertson whom he met through his great aunt.

While in Cambridge Meade became close friends with Richard Kahn, Piero Sraffa, Joan Robinson and Austin Robinson, forming the Cambridge Circus for economic discussion. Together they started discussing Keynes' work namely the A Treatise on Money. Every weekend Keynes appeared and was presented with the circle's discussion over the week by Kahn. They also discussed theories with Keynes when they met on Monday evenings at the political economy club in Keynes' room in King's College.

Career

Meade made lecturer at Hertford College, Oxford in 1931 and continued until 1937. Meade along with young enthusiasts such as Roy Harrod, Henry Phelps Brown, Charlie Hitch, Robert Hall, Lindley Fraser, Maurice Allen and Eric Hargreaves, who was his old tutor at Oriel College, started the concept of teaching economics as a regular subject for examination which was relatively new at Oxford. Meade was assigned with the responsibility of teaching the whole subject of economic theory. The economics of mass-unemployment and international economics interested Meade in particular. At that time Oxford had a really strong branch of the League of Nations Union with Gilbert Murray as its chairman and Margaret Wilson as its secretary. (Wilson married Meade in 1933.[1]) Meade was made a member of the economics section of the League of Nations in Geneva in 1937. He worked as the main editor of the journal "World Economic Survey" and published the 17th and the 18th editions.

In April 1940 Meade was forced to leave Geneva for England with his family of three children because of the war. He became a member of the Economic Section of the War Cabinet Secretariat in England and remained member until 1947 rising to the post of Director in 1946. Meade was joined by Lionel Robbins and Keynes and together they used the section to solve everyday economic problems ranging from the rationing system to the pricing policy of nationalized companies. Meade became the professor of trade at London School of Economics in 1947 where the Economics department was headed by Lionel Robbins. While he was in Oxford, Meade had written a short textbook titled "An Introduction to Economic Analysis and Policy." Meade believed it was time to rewrite the book while teaching international economics, more precisely the theory of international economic policy. It slowly cultivated into Meade's two books, The Balance of Payments (1951) and Trade and Welfare (1955).

The first volume The Balance of Payments stresses the fact that for each of its policy objectives, the government requires a policy tool. The second volume Trade and Welfare deals with conditions under which free trade makes a country better off and conditions under which it does not. Meade concluded that, contrary to previous beliefs, if a country was already protecting one of its markets from international competition, further protection of another market could be "second best." That is, although the ideal would be to eliminate all trade barriers, if for some reason this was not feasible, then adding a carefully chosen dose of protectionism could improve the nation's economic well-being.

The two books took Meade a decade to complete, however according to him they still did not cover the entire field of international economic policy since he had given less attention to the issue of international aspects of economic growth or dynamic imbalance. Despite his words, Meade shared the Nobel Prize in Economics along with Bertil Ohlin in 1977.

In 1957 Meade moved from London to the chair of political economy in Cambridge, which he held until 1967, after which he resigned to become a senior research fellow of Christ's College, Cambridge. Meade left the fellowship at the retirement age in 1974. During this time Meade started thinking about writing one or two volumes on the domestic aspects of economic theory and policy. He successfully wrote four volumes in this series namely The Stationary Economy, The Growing Economy, The Controlled Economy, and The Just Economy. Even after the four volumes Meade still believed that he had just made the beginning. He believed that the frontiers of knowledge when it comes to economics keep expanding at such a rate that it was almost impossible to establish a soundly based understanding of the entire subject and its ever-evolving parts.

In 1974 Meade took time off to act as full-time chairman of a committee set up by the Institute for Fiscal Studies to examine the structure of direct taxation in the United Kingdom. The committee consisted of a number of first-rate economic theorists and of leading practitioners in tax law, accountancy and administration.

In 1976, he was awarded an Honorary Degree (Doctor of Science) by the University of Bath.[2]

Meade died on 22 December 1995 in Cambridge.

Meade's model of economic growth

The basic assumptions for J.E.Meade's model are as follows: (1) The economy in question is a closed economy with no relationship with the outside world. (2) There is no government activity involving taxation and expenditure. (3) Perfect competition exists in the market. (4) Constant returns to scale prevails in the economy. (5) There are only two commodities-a consumption good and a capital good. (6) There is full employment of land, labour and machinery. (7) All machinery are alike and the ratio of labour to machinery can be easily varied, hence there is perfect malleability of machinery. (8) There is perfect substitutability between capital goods, consumption goods and any given stock of machines, no matter how old or new they are, a certain percentage gets replaced every year. Meade calls this phenomenon the assumption of depreciation by evaporation.

Determinants of the rate of economic growth

According to the assumptions given above, the net output produced by the economy depends on the following four things: (1) The amount of existing stock of machines in the economy (2) The amount of labor for production process (3) The amount of land or natural resources available for productive use in the economy (4) The technological progress in the economy which is expected to improve over time.

Hence the production function for the economy is given by:

Where:

          net output or net real income
          existing stock of machines
           the amount of labour
          amount of land
           time

Time is accounted for because with the passage of time the production would increase without any increase in , , or . An increase in with time (denoted by ) can take place in three ways. First, the machine stockpile may increase if the community starts saving part of their income thereby accumulating real capital. If the increase in the stock of capital taking place in one year is given by , the output would increase by where denotes the marginal net physical product of a machine.

Secondly, , the working population, may grow. If denotes an increase in the amount of labour productivity employed im a single year and measures the marginal product of labour, the output will increase in that year by .

Finally, the net output can increase if there is an increase in the technical progress (hence enabling increased efficiency). The total increase in net output due to technical progress is given by . Hence the total increase in net output in one year is the sum of the three influences. Combining this we get the equation:

Dividing both sides by , we get

Or,

(Equation 1)

Here is the annual proportionate rate of growth of output, the annual proportionate rate of growth of machinery stock, the annual proportionate rate of growth of productively employed labour and the annual proportionate rate of growth of output due solely to increase in technical progress.

Meade denotes these four proportionate rates of growth as and respectively. is the proportion of net national income to be paid in net profits (provided the owners of machinery receive a reward equal to the value of the net marginal product of the machinery).Meade denotes this as and calls it "the proportional marginal product of machinery". Under the assumption of constant returns to scale, it is equal to the proportion of national income received in profits. Similarly represents the proportional marginal product of labour and is equal to the proportion of the net national income going to wages under conditions of constant-returns competitive equilibrium. Meade denotes this as . Hence equation 1 can be written as

(Equation 2)

This shows the growth rate of output as being the weighted sum of three other growth rates,the sum of the growth rate in the stock of machines weighted by the marginal importance of machinery in the productive process i.e., in a competitive equilibrium by the proportion of the national income going to profits plus the growth rate of the population weighted by the marginal importance of labour in the productive process or, in a competitive equilibrium by the proportion of income going to wages plus the growth rate of technical progress Hence equation 2 can be written as

(Equation 3)

Since is the difference between the growth rate of total output and growth rate of the workforce, the growth rate of the real income per head can be measured. For example, if the total real income is increasing by 10 percent every annum but the working population is growing at 8 percent per annum, the income per head is rising by approximately 2 percent per annum.

Equation 3 shows that the growth rate of real income per head (y – l) is the output of three factors.

Firstly it is raised by the growth rate in real capital weighted by its proportional marginal product or by the proportion of net national income which would be paid min profits in a competitive equilibrium . Secondly it is depressed by the growth rate in the working population weighted by one minus the proportional marginal product of labour . Lastly it is raised by the amount of technology in the economy .

The element in equation 3 can also be written down as since the growth rate of machine stock is where is the proportion of the net national income that is saved. Therefore, we have which expresses the same thing in three forms namely the contribution which capital accumulation makes to the growth rate of the final output. Hence the basic relationship between the growth rate of real income per head and its three basic determinants can be expressed as:

Meade explains the application of these equations by taking a simple numerical example. Suppose the people save one tenth of their income such that and that the marginal product of real capital goods or the market profit rate is 5 percent per annum. Hence percent per annum. The contribution of capital accumulation to the growth of output, would be one tenth of 5 percent per annum. Hence ½ percent per annum. The explanation of this is, out of a year's income of 1000, if people save 100 units of product and if a once-for-all addition of 100 units to the stock of machines increases annual output in every future year by 5 units, then the initial annual income of 1000 will be raised by this year's capital accumulation to 1005 or by ½ percent during the course of the year. Assuming initial annual income to be 1000 and the initial machinery stock to be 2000 and . Similarly, the same thing can be expressed by saying that the stock of machines had increased from 2000 to 2100 or by 5 percent per annum. Then and per annum.

Thus the contribution of capital accumulation to growth rate of the final output was one tenth of 5 percent per year or ½ percent per annum.

The same result can be obtained by multiplying the proportion of the national income going to profits , the proportion of the national income which is saved and the annual income to capital stock ratio Our numerical example is: percent per annum.

Critical appraisal of Meade's growth theory

The growth theory provided by Meade is neo-Classical in nature. It is simple and attractive as it promises a state of steady economic growth. However it suffers from a few drawbacks First, for a steady state of economic growth to exist, the technological progress should be assumed to be entirely labour-augmenting. This is the special case of Harrod-neutral technological progress. However this does not seem to exist in the model.

Second, the neo-Classical adjustment mechanism depends on the flexibility of factor prices. But if they are not flexible a lot of difficulty is established. For example, in the Keynesian liquidity trap, the interest rate may fail to go down beyond a minimum level hence preventing the capital-output ratio to be high enough to reach growth equilibrium.

Third, there is no mention about investment function in the model. It is assumed to be solely determined by savings. Hence entrepreneurial expectations about the future are not taken into account.

Fourth, in the neo-Classical models capital is assumed to be jelly-like, homogeneous and malleable. This assumption is truly unrealistic, but without it present, it becomes very difficult to reach a stage of steady growth.

Finally, the technological progress is considered to be totally exogenous which is again extremely unrealistic and has been pointed out by many economists. To sum up, the neo-Classical growth model of Meade is based on certain restrictive and unrealistic assumptions. Hence applying this model in the case of under developed nations is almost impossible since the assumptions of perfect competition, full employment of labour and machinery and constant returns to scale do not fit in their economic realities.

Other contributions

Professor Meade made other contributions to economics. For example, he showed that the labour-managed firm (or worker cooperatives) need not respond inefficiently to price rises even in theory.[3]

Published works

His books include:

  • The Theory of International Economic Policy – The Balance of Payments (1951)
  • The Theory of International Economic Policy – Trade and Welfare (1955)
  • Principles of Political Economy (1965–76)
  • The Intelligent Radical's Guide To Economic Policy (1975)
  • Liberty, Equality and Efficiency (1993)

Notes

  1. ^ https://www.britac.ac.uk/pubs/proc/files/105p473.pdf
  2. ^ Honorary Graduates 1966 to 1988 – University of Bath
  3. ^ "Perverse" market responses, known as the "Ward effect," need not hold if a cooperative allows simple inegalitarian features when allotting shares to new-joining members: James Meade, "The Theory of Labour Managed Firms and of Profit Sharing," Economic Journal 82, 325 (Supplement, March 1972): 402–428.

References

  • Misra, S. K.; Puri, V. K. (2002). Economics of Development and Planning (Theory and Practice). "Ramdoot", Dr. Bhalerao Marg, Girgaon Mumbai-400004: Himalaya Publishing House. p. 926. ISBN 81-7866-547-6.
  • Dorrance, Graeme; Leeson, Robert (1997). "Obituary: James Edward Meade CB FBA, 1907–1995". Economics Department, Murdoch University

External links

Awards
Preceded by
Milton Friedman
Laureate of the Nobel Memorial Prize in Economics
1977
Served alongside: Bertil Ohlin
Succeeded by
Herbert A. Simon
Applied general equilibrium

In mathematical economics, applied general equilibrium (AGE) models were pioneered by Herbert Scarf at Yale University in 1967, in two papers, and a follow-up book with Terje Hansen in 1973, with the aim of empirically estimating the Arrow–Debreu model of general equilibrium theory with empirical data, to provide "“a general method for the explicit numerical solution of the neoclassical model”

(Scarf with Hansen 1973: 1)

Scarf's method iterated a sequence of simplicial subdivisions which would generate a decreasing sequence of simplices around any solution of the general equilibrium problem. With sufficiently many steps, the sequence would produce a price vector that clears the market.

Brouwer's Fixed Point theorem states that a continuous mapping of a simplex into itself has at least one fixed point. This paper describes a numerical algorithm for approximating, in a sense to be explained below, a fixed point of such a mapping (Scarf 1967a: 1326).

Scarf never built an AGE model, but hinted that “these novel numerical techniques might be useful in assessing consequences for the economy of a change in the economic environment” (Kehoe et al. 2005, citing Scarf 1967b). His students elaborated the Scarf algorithm into a tool box, where the price vector could be solved for any changes in policies (or exogenous shocks), giving the equilibrium ‘adjustments’ needed for the prices. This method was first used by Shoven and Whalley (1972 and 1973), and then was developed through the 1970s by Scarf’s students and others.Most contemporary applied general equilibrium models are numerical

analogs of traditional two-sector general equilibrium models popularized

by James Meade, Harry Johnson, Arnold Harberger, and others in the

1950s and 1960s. Earlier analytic work with these models has examined

the distortionary effects of taxes, tariffs, and other policies, along with

functional incidence questions. More recent applied models, including

those discussed here, provide numerical estimates of efficiency and distributional

effects within the same framework.

Scarf's fixed-point method was a break-through in the mathematics of computation generally, and specifically in optimization and computational economics. Later researchers continued to develop iterative methods for computing fixed-points, both for topological models like Scarf's and for models described by functions with continuous second derivatives or convexity or both. Of course, "global Newton methods" for essentially convex and smooth functions and path-following methods for diffeomorphisms converged faster than did robust algorithms for continuous functions, when the smooth methods are applicable.

Bertil Ohlin

Bertil Gotthard Ohlin (Swedish: [ˈbæʈːɪl ʊˈliːn]) (23 April 1899 – 3 August 1979) was a Swedish economist and politician. He was a professor of economics at the Stockholm School of Economics from 1929 to 1965. He was also leader of the People's Party, a social-liberal party which at the time was the largest party in opposition to the governing Social Democratic Party, from 1944 to 1967. He served briefly as Minister for Trade from 1944 to 1945 in the Swedish coalition government during World War II. He was President of the Nordic Council in 1959 and 1964.

Ohlin's name lives on in one of the standard mathematical models of international free trade, the Heckscher–Ohlin model, which he developed together with Eli Heckscher. He was jointly awarded the Nobel Memorial Prize in Economic Sciences in 1977 together with the British economist James Meade "for their pathbreaking contribution to the theory of international trade and international capital movements".

Cambridge Circus (economics)

The Cambridge Circus or Keynes's Circus was a group of young Cambridge economists closely associated with John Maynard Keynes. The group consisted of Richard Kahn, James Meade, Joan Robinson, Austin Robinson, and Piero Sraffa. The Circus formed immediately following the 31 October 1930 publication of Keynes's A Treatise on Money. The group met to read and discuss the Treatise and to provide feedback on Keynes's continuing theoretical work that would lead to his General Theory of Employment, Interest, and Money. Sraffa initiated the group, which met in Kahn's rooms of the Gibb's Building at King's College. The Circus met among themselves and in a seminar, which included some undergraduates, during the 1930-1931 academic year. The seminar convened in the Old Combination Room of Trinity College.Kahn acted as the group's spokesperson and met with Keynes weekly to discuss the Circus's thoughts. Kahn identifies the "widow's cruse" and "Danaid jar" fallacy as the most substantive issue in the group's discussions. The issue referred to Keynes's statement in the Treatise that an entrepreneur who spent his profits on consumption goods would increase profits for another entrepreneur by the same amount and that these profits would percolate through the economy endlessly like the oil from the widow's cruse in I Kings 17:16. (The reverse case, where entrepreneurs save, is analogous to the Danaid's jar that never fills). The Circus challenged Keynes's implicit assumption that there was a fixed supply of consumption goods.The influence of the group on the General Theory has been debated. Joseph Schumpeter stated that Kahn's contribution was almost that of a co-author, but Kahn himself denied this. On the other hand, Don Patinkin argued that most of Keynes's major breakthroughs came after the group disbanded in Spring 1931.The group kept no records but several first hand accounts of the group's meetings have been published.

Earl of Clanwilliam

Earl of Clanwilliam is a title in the Peerage of Ireland. It was created in 1776 for John Meade, 1st Viscount Clanwilliam. The Meade family descends from John Meade, who represented Dublin University and County Tipperary in the Irish House of Commons and served as Attorney-General to James, Duke of York. In 1703, he was created a Baronet, of Ballintubber in the County of Cork, in the Baronetage of Ireland. His eldest son, Pierce, the second Baronet, died unmarried at an early age and was succeeded by his younger brother Richard, the third Baronet. Richard represented Kinsale in the Irish Parliament.

He was succeeded by his son John, the fourth Baronet. He briefly represented Banagher in the Irish House of Commons. He married Theodosia, daughter and wealthy heiress of Robert Hawkins-Magill. Through this marriage the Gill Hall estate in Gilford in County Down came into the Meade family. In 1766 Meade was raised to the Peerage of Ireland as Baron Gillford, of the Manor of Gillford in the County of Down, and Viscount Clanwilliam, of the County of Tipperary. In 1776, he was further honoured when he was made Earl of Clanwilliam, also in the Peerage of Ireland. His grandson, the third Earl (who succeeded his father in 1805), was a prominent diplomat. Lord Clanwilliam was private secretary to and a close associate of Foreign Secretary Lord Castlereagh and also served as Permanent Under-Secretary of State for Foreign Affairs and as Ambassador to Prussia. In 1828 he was created Baron Clanwilliam, of Clanwilliam in the County of Tipperary, in the Peerage of the United Kingdom.He was succeeded by his eldest son, the fourth Earl. He was an Admiral of the Fleet. On his death the titles passed to his second but eldest surviving son, the fifth Earl. His only son, the sixth Earl, was Lord Lieutenant of County Down from 1962 to 1979. He had six daughters but no sons and was succeeded by his first cousin, the seventh Earl. He was the second and youngest son of Admiral the Hon. Sir Herbert Meade-Fetherstonehaugh, third son of the fourth Earl. As of 2014 the titles are held by his son, the eighth Earl, who succeeded in 2009.

Several other members of the Meade family have also gained distinction. The Hon. Robert Meade, second son of the first Earl, had reached the rank of lieutenant general in the army by 1814 at the height of the Napoleonic Wars. The Hon. John Meade, third son of the first Earl, was a lieutenant-general in the army. The Venerable the Hon. Pierce Meade, fourth son of the first Earl, was Archdeacon of Dromore. The Hon. Sir Robert Henry Meade, second son of the third Earl, was Permanent Under-Secretary of State for the Colonies from 1892 to 1897. The aforementioned the Hon. Sir Herbert Meade-Fetherstonhaugh, third son of the fourth Earl, was an admiral in the Royal Navy.

Cardinal Christoph Schönborn descends from the 2nd Earl of Clanwilliam.

The family seat Is Meade Mews, in London, but during the tenure of the 6th Earl was at Montalto Estate, near Ballynahinch, County Down.

Gayton, Norfolk

Gayton is a small village in the west of the English county of Norfolk.

James Meade (disambiguation)

James Meade (1907–1995) was a British economist.

Jimmy, Jim or James Meade may also refer to:

James Meade (before 1570–after 1596), English landowner; built historic Narborough Hall

James M. Meade (before 1790–1812), American captain; namesake of Meade County, Kentucky

James Meade, President of Dominica from 1882 to 1887 (List of colonial governors and administrators of Dominica#Presidents (1872–1895))

Jim Meade (1914–1977), American football player

James Meade, Montserrat politician in West Indies federal elections, 1958#Senate Selection

Jim Meade, American hijacker D. B. Cooper's alias in 1981's The Pursuit of D. B. Cooper

Jim Meade, Irish chief executive of Iarnród Éireann

Jimmy Meade, American plaintiff in Obergefell v. Hodges#Bourke v. Beshear

James Meade, English groom at celebrity wedding in Gayton, Norfolk#Overview

Julian Marsham, 8th Earl of Romney

Julian Charles Marsham, 8th Earl of Romney (born 1948, of Gayton Hall) is an English peer.

List of Nobel laureates affiliated with the London School of Economics

A list of Nobel laureates affiliated with the London School of Economics. By official figures 18 Nobel Prizes in economics, peace and literature have been awarded to LSE alumni and staff. By 2016, 27% (or 13 out of 48) of all the Nobel Prizes in Economics have been awarded or jointly awarded to LSE alumni, current staff or former staff, making up 17% (13 out of 78) of all laureates. LSE alumni and staff have also won 3 Nobel Peace Prizes, and 2 Nobel Prizes in Literature.

Alumni

1950: Ralph Bunche (Peace)

1979: Sir William Arthur Lewis (Economics)

1991: Ronald Coase (Economics)

1999: Robert Mundell (Economics)

2007: Leonid Hurwicz (Economics)

2016: Juan Manuel Santos (Peace)Founders and professors

1925: George Bernard Shaw (Literature)

1950: Bertrand Russell (Literature)

1959: Philip Noel-Baker (Peace)

1972: Sir John Hicks (Economics)

1974: Friedrich von Hayek (Economics)

1977: James Meade (Economics)

1990: Merton Miller (Economics)

1998: Amartya Sen (Economics)

2001: George Akerlof (Economics)

2008: Paul Krugman (Economics)

2010: Christopher A. Pissarides (Economics)

2016: Oliver Hart (Economics)Non-alumni1987: Óscar Arias (Peace)

List of Old Malvernians

Old Malvernians are alumni of Malvern College, an independent day and boarding school in Malvern, Worcestershire, England that was founded in 1865. Originally a school for boys aged 9 to 18, it merged in 1992 with a private boys' primary school and an independent school for girls to become coeducational for pupils aged 3 to 18.

Many alumni have gained recognition in such fields as the military, politics, business, science, culture and sport. Among the most famous are spymaster James Jesus Angleton, former head of the CIA's counter-intelligence; Aleister Crowley, the controversial but influential occultist; actor Denholm Elliott, sportsman R. E. Foster, the only man to have captained England at both cricket and football; and novelist C. S. Lewis, author of The Chronicles of Narnia. Other well-known personalities include businessman Baron MacLaurin, a former Chairman of Tesco and Vodafone; Jeremy Paxman, journalist, author, and BBC presenter of Newsnight and University Challenge; and Baron Weatherill, the former Speaker of the British House of Commons. Old Malvernians who have become heads of state or government include the eponymously titled Viscount Malvern and Najib Tun Razak, the 6th Prime Minister of Malaysia. The former was the British Commonwealth's longest serving Prime Minister by the time he left office. Old Malvernian Nobel Prize winners include Francis William Aston, winner of the 1922 Nobel Prize for Chemistry, and James Meade, winner of the Nobel Prize for Economics in 1977.

Meade (surname)

Meade is a surname, and may refer to

ActorsEmily Meade (active from 2006), American actress

Garth Meade (born 1930), South African comedian/actor, active in Australia since 1970

Mary Meade, American film actress of the 1940sArtists and musiciansAlexa Meade (born 1986), American artist

Angela Meade (born 1977), American opera singer

Tyson Meade, singer and songwriter

Laura Meade, American singer and songwriterMilitaryArthur Meade, 5th Earl of Clanwilliam (1873–1953), British army officer and politician

George Meade (1815–1872), American Civil War general

Richard Meade, 4th Earl of Clanwilliam (1832–1907), British Royal Navy officer

Richard John Meade (1821–1894), British Indian army general

Richard Worsam Meade I (1778–1828), American merchant and art collector

Richard Worsam Meade II (1807–1870), American naval officer

Richard Worsam Meade III (1837–1897), American naval officer

Robert Leamy Meade (1842–1910), officer in the United States Marine CorpsPoliticians and ambassadorsArthur Meade, 5th Earl of Clanwilliam (1873–1953), British army officer and politician

Edwin R. Meade (1836–1889), lawyer and U.S. Congressman

Hugh Meade (1907–1949), U.S. Congressman

Sir John Meade, 1st Baronet (1642–1707), Irish barrister, judge and politician, Member of the Parliament of Ireland 1689–1707

John Meade, 1st Earl of Clanwilliam (1744–1800), Irish peer and Member of the Parliament of Ireland for Banagher 1764–67

John Meade (British Army officer) (c. 1775–1849), Member of the UK Parliament for County Down 1805–12

José Antonio Meade Kuribreña (born 1969), Mexican politician and economist who pursued the PRI nomination for the 2018 presidential elections

Reuben Meade (born 1952), politician from Montserrat

Richard Meade, 3rd Earl of Clanwilliam (1795–1879), British ambassador

Richard Kidder Meade (1803–1862), lawyer and U.S. Congressman from Virginia

Robert Henry Meade (1835–1898), Head of the British Colonial Office

Wendell H. Meade (1912–1986), lawyer and U.S. Congressman in KentuckyReligionCharles Meade (1916-2010), Christian group leader

Marie Meade (born 1947), Yup'ik tradition bearer

William Meade (1789–1862), United States Episcopal bishopSportCharles Francis Meade (1881–1975), British mountaineer and author

James "Jim" Gordon Meade (1914–1977), American football player

McPherson Meade (born 1979), Montserratian cricketer

Neville Meade (1948-2010), British boxer

Noel Meade, Irish trainer of racehorses

Raphael Meade (born 1962), English football (soccer) player

Richard Meade (1938-2015), British equestrian and Olympic gold medal winner

Richie Meade, American lacrosse coach

Seán Meade (born 1937), Gaelic footballerWritersCharles Francis Meade (1881–1975), British mountaineer and author

Gerald Willoughby-Meade (1875–1958), British author who wrote about the supernatural in Chinese folklore

Glenn Meade (born 1957), Irish author

L. T. Meade (1854-1914), pseudonym of Elizabeth Thomasina Meade Smith, an English writer of girls' stories

Marion Meade (born 1934), American biographerOtherCarl J. Meade (born 1950), NASA astronaut

Edmund Meade-Waldo (1855–1934), English ornithologist and conservationist

James Meade (1907–1995), British economist and winner of the 1977 Nobel Prize in Economics

Michael J. Meade (born mid-1940s), Mythopoetic branch of the Men's Movement

Robin Meade (born 1969), television news anchor

Richard Henry Meade (1814–1899), British entomologist & Arachnologist

Theodosia Meade, Countess of Clanwilliam (1744–1817), landowner in Ireland

David Meade, conspiracy theorist and book author. Known for predicting that a hidden planet called Nibiru would collide with Earth on September 23rd.

Nicholas Meade (born 1994), Mario Kart Wii← streamer and top playerFictional charactersAlexis Meade, character in Ugly Betty

Bradford Meade, character in Ugly Betty

Claire Meade, character in Ugly Betty

Daniel Meade, character in Ugly Betty

Meade Conflict

Meade Conflict refers to a dilemma where an economy faces conflict between its internal and external balances. The phenomenon was proposed by the British economist and Nobel Prize Laurent James Meade in his influential book The Theory of International Economic Policy – The Balance of Payments (1951). Trevor Swan developed this problem into Swan diagram, which became more influential in the economic theory. The discovery has also lead to other models such as Tinbergen's Rule.

Narborough Hall

Narborough Hall is a Grade II* listed building in Narborough in Leicestershire. Believed to date from 1596 this Elizabethan manor house was built by James Meade, a local landowner. However it wasn’t until it was extensively remodelled in the mid-19th century that it became known as Narborough Hall. It is notable because of its construction from local pink granite.

The property was first listed in 1952 and the following years saw a sad decline, culminating in a threat to demolish the house in the early 1970s. When the current owners Paul and Wendy Broadley bought it in 1976 it was a dilapidated wreck. Years of extensive renovation followed, much of the work undertaken by Paul himself, and the Hall was brought back to its former glory.

To help the funding of this considerable undertaking and the maintenance of the house, the Broadleys opened the front rooms of the house as a shop in 1992. Now run by Paul and Wendy’s daughter and son-in-law Sophie and Simon, the shop has grown in size and now occupies five rooms on the ground floor.

Partha Dasgupta

Sir Partha Sarathi Dasgupta, FRS, FBA (born 17 November 1942), is the Frank Ramsey Professor Emeritus of Economics at the University of Cambridge, United Kingdom; Fellow of St John's College, Cambridge, and Visiting Professor at the New College of the Humanities, London. He was born in Dhaka, present-day Bangladesh, then moved to present-day India, and is the son of the noted economist Amiya Kumar Dasgupta. He is married to Carol Dasgupta, who is a psychotherapist. His father-in-law was the Nobel Laureate James Meade.

Patrick Meade, 8th Earl of Clanwilliam

Patrick 'Paddy' James Meade, 8th Earl of Clanwilliam (born 28 December 1960), styled Lord Gillford from 1989 to 2009, is a businessman, government and financial communications specialist.He succeeded to the earldom of Clanwilliam following the death of his father, the 7th Earl, in 2009.

Educated at Eton College and Royal Military Academy Sandhurst., Meade started his business career with Hanson plc and has since been the director of a number of FTSE 100 companies. He is the owner (with an 80% shareholding) of the lobbying firm Meade Hall & Associates.

Meade is active in the Conservative Party. Sitting as a councillor for two terms in the Royal Borough of Kensington and Chelsea, Meade is now a Conservative Party donor and sponsored a table costing some £1,000 per person at the party's 2013 Summer Ball.

Peyton Young

Hobart Peyton Young (born March 9, 1945) is an American game theorist and economist known for his contributions to evolutionary game theory and its application to the study of institutional and technological change, as well as the theory of learning in games. He is currently centennial professor at the London School of Economics, James Meade Professor of Economics at the University of Oxford, professorial fellow at Nuffield College Oxford, and research principal at the Office of Financial Research at the U.S. Department of the Treasury.

Peyton Young was named a fellow of the Econometric Society in 1995 and a fellow of the British Academy in 2007. He served as president of the Game Theory Society from 2006-08.[1] He has published widely on learning in games, the evolution of social norms and institutions, cooperative game theory, bargaining and negotiation, taxation and cost allocation, political representation, voting procedures, and distributive justice.

Princess Charlotte of Cambridge

Princess Charlotte of Cambridge (Charlotte Elizabeth Diana; born 2 May 2015) is a member of the British royal family. She is the second child and only daughter of Prince William, Duke of Cambridge, and Catherine, Duchess of Cambridge. She is fourth in the line of succession to the British throne.

Richard Meade, 4th Earl of Clanwilliam

Admiral of the Fleet Richard James Meade, 4th Earl of Clanwilliam (3 October 1832 – 4 August 1907), styled Lord Gillford until 1879, was a Royal Navy officer. As a junior officer, he served at the Battle of Escape Creek and at the Battle of Fatshan Creek during the campaign against Chinese pirates. He also took part in the Battle of Canton, where he was severely wounded, during the Second Opium War.

As a senior officer Meade went on to be commander of the Steamship reserve at Portsmouth, commander of the Flying Squadron and Commander-in-Chief, North America and West Indies Station. His last appointment was as Commander-in-Chief, Portsmouth.

Tony Atkinson

Sir Anthony Barnes "Tony" Atkinson (4 September 1944 – 1 January 2017) was a British economist, senior research fellow of Nuffield College, Oxford, and Centennial Professor at the London School of Economics.A student of James Meade, Atkinson virtually single-handedly established the modern British field of inequality and poverty studies. He worked on inequality and poverty for over four decades.

Founder
Neo-Keynesians
Post-Keynesians
New Keynesians
1969–1975
1976–2000
2001–present

This page is based on a Wikipedia article written by authors (here).
Text is available under the CC BY-SA 3.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.