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The International Economy

In: James Edward Meade

Author

Listed:
  • David Reisman

    (Nanyang Technological University
    University of Surrey)

Abstract

Meade had been a witness to the beggar-thy-neighbour economic nationalism that had perpetuated the economic stagnation of the 1930s. He was always a free trader, determined to eradicate protective tariffs and non-tariff barriers. Free trade extended to a flexible parity, more malleable than the nineteenth-century gold standard but adjustable only with the permission of a cross-border organisation like the International Monetary Fund. Depreciation would always be preferable to deflation where institutional rigidities in wages and prices meant that downturns would mean excess capacity and involuntary unemployment.

Suggested Citation

  • David Reisman, 2018. "The International Economy," Great Thinkers in Economics, in: James Edward Meade, chapter 5, pages 99-123, Palgrave Macmillan.
    • Handle: RePEc:pal:gtechp:978-3-319-69281-4_5
    DOI: 10.1007/978-3-319-69281-4_5
    as

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