Just economy

In this sequel to The Stationary Economy Professor Meade continues his task as what he calls an up-to-date specialist in generalization' the task of presenting a systematic treatment of the whole field of econo mic analysis in the form of a series of simplified models which are specially designed to show the interconnections between the various specialist fields of economic theory. While action always demands empirical enquiry, he is convinced from experience that the training in economic principles given by these models inculcates a way of looking at things which is invaluable in reaching sensible decisions. His work also offers students and specialists the boon of a general survey of the most sophisticated up-to-date theory in a form which demands a minimum of mathematical training. To quote The Economist, 'It is a long time since anyone attempted to write a treatise... on economic analysis in general.... This is a splen did and bold idea. Professor Meade is a master of lucid and rigorous theoretical exposition.

Once again (to quote New Society) the treatment is outstandingly lucid' and again this volume 'performs a much needed piece of synthesis.' The subject matter is now more realistic in that it introduces capital goods and allows for growth through capital accumulation, population expan sion and technical progress. Nevertheless it still retains a number of simplifications which are the necessary basis of its excellence as a book of exercises in some of the basic tools of economic theory which are necessary for the subsequent analysis of more realistic models.'

Professor Meade's preface outlines what remains to be done to bring his 'ambitious project' to completion. Students will be grateful for this second instalment, which carries the discussion quite a long way from the harmonious quiet of the abstract model to the untidy bustle of the real world.'