ABSTRACT
When Richard Stone met Meade in the summer of 1940, Meade ‘was engaged in drawing up plans for… a survey [of the national economy] in the form of a complicated system of balancing tables’. On this foundation Meade and Stone prepared the official national income estimates for the UK published first in the White Paper, An Analysis of the Sources of War Finance and an Estimate of the National Income and Expenditure in 1938 and 1940 (Cmd6261), in April 1941. Meade's original paper is printed here, without the second appendix which listed the statistical data needed to fill in the tables (Richard Stone,’ The use and development of national income and expenditure estimates’, in D. N. Chester, ed., Lessons of the British War Economy, Cambridge: Cambridge University Press, 1951, pp. 83–101; Meade Papers 3/1 and file T230/96, Public Record Office). It is followed by three published papers by Meade and Stone, one also with David Champernowne, in which they presented their war-time national income estimates and the principles and problems of their construction.
