Harrod, Roy Forbes

Harrod, Roy Forbes

 

Born Feb. 13, 1900, in London; died Mar. 8, 1978, in Holt, England. British economist.

Forbes graduated from Oxford University in 1922 and taught economics at Oxford from 1929 to 1937 and from 1946 to 1967. From 1943 to 1945 he was an adviser to the Admiralty on questions of statistics. From 1947 to 1950, Harrod was a member of the United Nations Subcommission on Employment and Economic Stability, and from 1952 to 1953 he was an economic adviser to the International Monetary Fund.

Harrod’s major work dealt with the theory of economic growth, economic cycles, international trade, and money. In his theory of growth, Harrod sought to determine the rate of growth necessary to make use of ever-increasing production capacities and to provide full employment to the work force over the long run. In the area of international monetary relations, Harrod considered it impossible to abandon gold in dealings between countries; he advocated an increase in the price of gold in order to increase international liquid assets. In considering the problems of economic growth in Great Britain, Harrod advocated strengthening the balance of payments and increasing the gold reserves by limiting imports, as a necessary condition for stimulating economic growth. The basic flaw in Harrod’s bourgeois-apologetic argument is that he ignored the specifics of capitalist reproduction and its contradictions.

WORKS

The Trade Cycle. Oxford, 1936.
The Dollar. London, 1953.
International Economics. Cambridge, 1959.
The British Economy. New York, 1963.
Policy Against Inflation. London-New York, 1958.
Reforming the World’s Money. London-New York, 1965.
Towards a New Economic Policy. Manchester, 1967.
Economic Dynamics. London, 1973.
In Russian translation:
K teorii ekonomicheskoi dinamiki. Moscow, 1959.

REFERENCES

Al’ter, L. B. Burzhuaznaia politicheskaia ekonomiia SShA. Moscow, 1971. (Chapter 16.)
Burzhuaznye ekonomicheskie teorii i ekonomicheskaia politika imperialisticheskikh stran. Moscow, 1971. (Chapter 5.)

A. A. ZHITNIKOV

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