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Richard Stone
Economist

Richard Stone

Famoose for

Developing systems of national economic accounts.

UK national accounts · Economics Nobel

Born
30 August 1913
Birthplace
London
Died
6 December 1991

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Richard Stone

British economist who helped make national income and expenditure measurable within a consistent accounting framework. His work earned the 1984 economics Nobel.

Early life

Change of subject

Educated at Westminster and Cambridge, he began in law before switching to economics during the Depression. Colin Clark influenced his interest in national income measurement.

Career

  1. 1935

    Insurance work

    Joined Lloyd’s after university.

  2. 1941

    National accounts

    Wartime collaboration with James Meade produced a British accounting framework.

  3. 1945

    Cambridge return

    Moved into academic work after government service.

Selected work

UK national accounts

Helped connect income, expenditure and resources in a consistent system.

Economics Nobel

Received recognition for developing national accounting.

Beyond work

Collaborative marriage

Married Giovanna Saffi in 1960. She became a partner in his work, including a revision of National Income and Expenditure.

Sources & photo creditBiography and career ↗Biographical references ↗

Original photograph. Cropped and displayed in monochrome.

Photo: Associated Press. Public domain · Original image. Cropped and displayed in monochrome.