James Meade

James Meade was a British economist and Nobel laureate, known for his contributions to macroeconomics and welfare economics. Born in 1907, he is most famous for his work on the theory of international trade and his ideas on how economies can achieve social welfare. Meade introduced the concept of the “balanced budget,” emphasizing the importance of government spending and taxation in fostering economic prosperity. He also advocated for the goal of economic policies that promote equitable distribution of resources. His insights continue to influence economic thought, particularly in understanding the balance between free markets and social welfare.