Sir Richard Stone and the development of national economic accounts.

From: Survey of Current Business | Date: March 1, 1992 | Copyright information

Sir Richard Stone, Nobel Laureate in Economics and developer of national income accounting, died in Dec, 1991. Stone and his associate James Meade were the first to apply double-entry bookkeeping to national accounts, a method which related sectors of the economy to each other and to the whole. Stone helped develop international standards of accounting principles for a US/Canada committee and the League of Nations. He used his method to develop the United Nations' Systems of National Accounts...

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