Abstract
Richard Stone is recognised as the father of national accounting, having pioneered the United Nations’ System of National Accounts and been awarded the Nobel Prize in Economics in 1984 for this work. His specific contribution to Cambridge economics came from his time as the first Director of the Department of Applied Economics (DAE) and his subsequent time as Director of the Cambridge Growth Project in the DAE. His influence can be seen in three areas that flourished in Cambridge: historical research into UK national income statistics; the development of econometrics as a discipline, including input–output analysis and the Linear Expenditure System explaining private consumer demand; and the modelling work that provided a distinct econometric application of Keynesian economics.
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