Sir John Richard Nicholas Stone was an outstanding figure in post-war British applied econometrics. Stone was born on 30th August 1913, in London.
He was an eminent British economist. Stone was educated in Westminster School, and Cambridge University. In 1984, he received the Nobel Prize in Economic Sciences for developing an accounting model that could be used to track economic activities on a national and, later, an international scale.
He visited India along with his father, as his father was appointed as a judge in Madras. He returned to London in 1931.
He is sometimes known as the ‘father of national income accounting’. The first official estimates of British national income and expenditures were made according to Stone’s method in 1941.
He was co-author with J.E. Meade of ‘National Income and Expenditure’ and author of several other works.
He died on 6th December 1991 at the age of 78, in England.
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