Atlantic Economic Journal

, Volume 10, Issue 1, pp 35–40 | Cite as

LSE and postwar economic policy

  • Alan Peacock
Lse And Its Contributions To Economics


Economic Policy International Economic Public Finance 
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  1. 1.
    The subject matter precludes consideration of important contributions to economic analysis rather than to economic policy during the period in question made by LSE economists for whose work I have a profound respect.Google Scholar
  2. 2.
    Lord Robbins,Autobiography of an Economist, Macmillan, 1971, p. 185.Google Scholar
  3. 3.
    Lionel Robbins,The Economic Problem in Peace and War, Macmillan 1947.Google Scholar
  4. 4.
    See J. Wiseman, “Uncertainty, Costs and Collective Economic Planning,”Economica, May 1953.Google Scholar
  5. 5.
    He wryly remarks: “I confess that I find it more than a little paradoxical that at the present day we are continually told that in order to attain American standards of efficiency we must go over to wholesale collectivism” (op. cit. p. 80).Google Scholar
  6. 6.
    The passage, incidentally, call on Keynes's support for his panegyric of individualism, quoting the passage (often overlooked) on p. 380 ofThe General Theory, First Edition.Google Scholar
  7. 7.
    F. A. Hayek,The Road to Serfdom, George Routledge and Sons, London 1944.Google Scholar
  8. 8.
    In March 1950, the ‘doyen’ of the Freiburg School, the anti-Nazi Walter Eucken, unfortunately died in London in the middle of giving five lectures in English on the bitter lessons derived from Nazi economic policies. See hisUnser Zeitalter der Misserfolge, J. C. B. Mohr (Paul Siebeck), Tobingen 1951, translated asThe Unsuccessful Age (with introduction by John Jewkes), William Hodge, London 1952.Google Scholar
  9. 9.
    See the essays by Ashton in F. A. Hayek (Editor),Capitalism and the Historians, Routledge and Kegan Paul Ltd., London 1954; also T. S. Ashton,The Industrial Revolution, Oxford University Press 1948.Google Scholar
  10. 10.
    The kind of factory organization associated with industrial production is not confined to capitalist society!Google Scholar
  11. 11.
    See L. Robbins,The Theory of Economic Policy in English Classical Political Economy, Macmillan, London 1952. Lord Lindsay of Birker, Master of Balliol at the time, is given his come-uppance in (for Robbins) some unusually strong language. Cf. op. cit., pp. 68–9.Google Scholar
  12. 12.
    F. W. Paish,The Post-War Financial Problem and Other Essays, Macmillan and Co. Ltd., London, 1950. This book also includes two important essays on ‘Economic Incentive in War-Time’ and ‘The Economics of Rent Restriction”; Ronald Coase,British Broadcasting: A Study in Monopoly, Bell, London, 1950; Basil Yamey,Economics of Resale Price Maintenance, Pitman, London, 1954; Alan Peacock,Economics of National Insurance, Hodge, London 1952; and Jack Wiseman, “The Economics of Education,”Scottish Journal of Political Economy, February 1959.Google Scholar
  13. 13.
    Published by George Allen and Unwin, 1948, A fascinating comparison can be made between this work and his more recent work,The Intelligent Radical's Guide to Economic Policy, Allen and Unwin, London 1975.Google Scholar
  14. 14.
    Curiously enough, Keynes, whom Meade greatly admires, is not mentioned once in his book-perhaps an unconscious tribute to his influence.Google Scholar
  15. 15.
    On the other hand, there is a story illustrating the tolerance of his position among senior Labour politicians. When Meade presented his views to a policy committee of the Labour Party, he concluded by asking “am I still a member of the Labour Party?”. The ex-Chancellor of the Exchequer, Hugh Dalton (formerly Reader in Public Finance at LSE) replied: “James, have you paid your subscription?”.Google Scholar
  16. 16.
    See Lionel Robbins,The Economist in the Twentieth Century, Macmillan Co., London 1954, Chapter 1.Google Scholar
  17. 17.
    I enjoyed cooperating with David Glass and Lance Beales, well known demographer and social historian respectively, in producingAn Introduction to Malthus (Ed. Glass), Watts, London 1953, but it is quite clear that their distaste of Malthus and Malthusianism contrasts markedly with my attempts to view the Malthusian position on economic development as dispassionately as possible.Google Scholar

Copyright information

© Atlantic Economic Society 1982

Authors and Affiliations

  • Alan Peacock
    • 1
  1. 1.University CollegeBuckingham

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