Stone, John Richard Nicholas
English economist and statistician, awarded the Nobel Prize for Economics in 1984, jointly with English economist James Meade, for pioneering estimates of British national income and expenditure, having been knighted six years earlier for the same achievement.
Stone's work with Meade on national income accounting during the war was followed by work on a System of National Accounts, published by the UN Statistical Office in 1953 with several subsequent revisions, which gradually came to be implemented on a worldwide basis. In 1954, he published a massive study of consumption in the UK over the period 1920-38, that remains one of the classics of applied econometrics. Over many years, he also supervised the construction of what came to be known as the Cambridge Growth Model, in which social accounting matrices and behavioural equations for demand and production were integrated so as to provide a tool for policy evaluation.
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