James Meade British economist, Nobel laureate Date of Birth: 23.06.1907 Country: Great Britain

James Meade: A Biography

James Meade was a British economist and Nobel laureate who played a significant role in shaping economics as an independent discipline. Born and raised in Bath, Somerset, Meade developed a keen interest in Greek and Latin languages during his school years from 1917 to 1921. However, his academic focus shifted to philosophy, politics, and economics while studying at college. Economics was a relatively new field of study at that time, and Meade's interest in it was influenced by various factors.

Meade's desire to help his country during the post-war period, which was plagued by severe unemployment, led him to pursue economics. In 1930, Meade secured a position at Hertford College, Oxford, where he continued his studies in economics as a graduate student. He also joined Trinity College, Cambridge in the same year, invited by Dennis Robertson. In Cambridge, Meade became acquainted with Richard Kahn, Piero Sraffa, Joan Robinson, and Austin Robinson, forming what became known as the "Cambridge Circus," an intellectual group focused on economics. They frequently discussed the works of John Maynard Keynes, particularly his book "A Treatise on Money." Keynes himself attended the group's meetings every weekend.

From 1931 to 1937, Meade lectured at Hertford College, where he, along with other young enthusiasts, developed a comprehensive economics course. This initiative was well-received, as Oxford had previously paid little attention to teaching economics. Meade was entrusted with the responsibility of teaching and conducting research related to economic theory. During this period, he focused particularly on the issues of mass unemployment and international economics.

Oxford maintained active connections with the local branch of the League of Nations Union, and Margaret Wilson, Meade's future wife, served as the branch's secretary. Meade spent some time working in the League's Economic Department in Geneva. He also edited the journal "World Economic Survey." However, due to the outbreak of war, Meade and his family had to flee Geneva for England in April 1940.

Upon his return, Meade became a member of the economic department in the British Ministry of War. He worked in this department until 1947, eventually becoming its director. Meade collaborated with Lionel Robbins and Keynes, addressing various pressing issues, from food distribution systems to developing optimal pricing policies for nationalized companies.

While still in Oxford, Meade wrote a small work titled "An Introduction to Economic Analysis and Policy." Later, he decided to rewrite the book to incorporate new theories and methodologies for analyzing international policy. As a result, the book split into two separate works: "The Balance of Payments" and "Trade and Welfare."

James Meade passed away on December 22, 1995, in Cambridge, leaving behind a significant legacy in the field of economics.