Geoffrey Maynard

Born in Tottenham and educated at the local grammar school (alongside another future economist, Ralph Harris), Maynard served with the RAF in the north African theatre during the Second World War.

During a tenure as Fellow in Political Economy at Johns Hopkins University, Baltimore, he was encouraged by future Nobel Prize winner Simon Kuznets to work on the relationship between growth and inflation.

In this book, he followed Keynes's distinction between income and profit inflation and applied it to an early two-sector framework between the agricultural sector and the rest of the economy.

Later, in their post mortem of the Argentine experience, the authors blamed the ultimate failure of the stabilization attempt on an unforeseen surge in beef prices following a meat shortage.

He also served as deputy chief economic adviser in the British Treasury under the then Chancellor of the Exchequer, Denis Healey, from 1974 onwards, where he was a lone voice against incomes policy whilst remaining supportive of a cut in public spending to offset the jump in oil prices.