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About: Meade Conflict     Goto   Sponge   NotDistinct   Permalink

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Meade Conflict refers to a dilemma where an economy faces conflict between its internal and external balances. The phenomenon was proposed by the British economist and Nobel Prize Laurent James Meade in his influential book The Theory of International Economic Policy – The Balance of Payments (1951). Trevor Swan developed this problem into Swan diagram, which became more influential in the economic theory. The discovery has also led to other models such as Tinbergen's Rule.