First published in 1948, this book outlines a solution to contemporary economic problems in the post-war years. This solution aims to make the best use of our price mechanism, free initiative and competition, but also involves the socialization of certain monopolistic concerns and the state control of the price mechanism in such a way as to maintain full employment, to achieve an equitable distribution of income and property, and to restore equilibrium to our balance of payments. It is an outline of that middle way which the author calls the Liberal-Socialist solution.
‘Altogether this is a valuable little book which should make not only the rationale of enlightened Socialism and the mechanics of planning, but the nature of Britain’s present economic dilemma a good deal clearer to its readers.’ – The Spectator
‘As usual we get great lucidity of treatment from Professor Meade, together with a high sense of responsibility on the important role the economist must play … in resolving the problems of economic policy in a controlled economy.’ – D. B. Copland, Economic Record
1. The Problem Stated 2. The Control of Inflation and Deflation 3. Distribution of Income and Property 4. The Problem of Monopoly 5. Financial Policy and the Balance of Payments Appendix 1. The Arithmetic of the Amalgation of National Insurance, Children’s Allowances, Food Subsidies and Income Tax Appendix 2. The International Monetary Fund, the International Trade Organization and the United Kingdom Balance of Payments