Biography
After graduating from Cambridge in 1936 and until World War II he worked at Lloyd's Brokers. During the war, Stone worked with James Meade as a statistician and economist for the British Government. It was at this time that they developed the early versions of the system of national accounts. After the war, Stone worked at Cambridge as the director of the new Department of Applied Economics (1945– 1955) and as P.D. Leake professor of finance and accounting (emeritus from 1980). Within the Department, he founded the Cambridge Growth Project, which developed the Cambridge Multisectoral Dynamic Model of the British economy (MDM). He was succeeded as leader of the Cambridge Growth Project by Terry Barker. A company founded by members of the Department and limited by guarantee, Cam bridge Econometrics, was founded in 1978 with Stone as its first honorary president. The company continues to develop MDM and to use the model to make economic forecasts.
In 1936, he married Winifred Mary Jenkins who was also from Cambridge. Both of them had a passion for Economics and started a monthly called Trends, which was a supplement to the periodical, Industry Illustrated. It contained articles about the British economic conditions. Soon after, in 1939, he was asked to join the Ministry of Economic Warfare. In 1960, he married Giovanna Saffi, great grandchild of Italian patriot Aurelio Saffi, who became his partner in many of his works.
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