Richard Stone

Sir John Richard Nicholas Stone ( born August 30, 1913 in London, † 6 December 1991 in Cambridge ) was a British economist.

Richard Stone in 1978 was knighted and in 1984 he received the Nobel Prize in Economics for his pioneering achievements in the development of national accounting systems, which he has improved radically the basis of empirical economic analysis.

Stone attended the Westminster School, was a year in India (his father was a judge in Madras ) and Indonesia and studied from 1931 law at the University of Cambridge ( Gonville and Caius College), but switched after two years of economics. He was particularly influenced by Colin Clark, who encouraged him to study with national accounts. In 1936 he graduated and worked for Lloyd's in London. During World War II he worked for the Government, where he was involved in 1941 under James Meade, consider to a first national national accounts for the United Kingdom. He then worked in the Central Statistical Office as an assistant to John Maynard Keynes. From 1945 he was back in Cambridge, where he was until 1955 Applied Economics Director of the Department ( Department of Applied Economics, DAE). 1955 until his retirement in 1980, he was PD Leake Professor of Finance and Accounting (Finance and Accounting ) at Cambridge.

With Alan Brown, he began the Cambridge Growth Project, in which the Cambridge Multisectoral Dynamic Model ( MDM ) has been developed for the UK economy. At the foundation of the company Cambridge Econometrics, which further developed the MDM for Economic Forecasting, 1978, he was Honorary Chairman.

1978 to 1980 he was President of the Royal Economic Society.

He was married three times, most recently in 1960 with the Italian Giovanna Saffi, with whom he also wrote two books.

Writings

• Giovanna Saffi Stone, Social Accounting and Economic Models, 1959
• Giovanna Saffi Stone, National Income and Expenditure, 1961