Date

4-2011

Department

History

Degree

Master of Arts (MA)

Chair

Homer H Blass

Primary Subject Area

Biography; History, European; History, General

Keywords

David Lloyd George, economics, Frank Paish, George Paish, Statist

Abstract

Sir George Paish was a noted British economist who earned his title and position. The son of a coachman, he advanced from being a teenage clerk in 1881 to joint editor of The Statist magazine by 1900. One of Paish's earliest contributions to economics was his analysis of British railways by statistically determining load capacities and carrying efficiency, published in The British Railway Position in 1902. He then argued for reform on a Board of Trade committee on railways from 1906-1908.

From 1909-1915, Paish was an independent consultant to Chancellor of the Exchequer David Lloyd George, who became Prime Minister in 1916. Lloyd George encouraged King George V to knight Paish in 1912 for his contribution to economics. At the outbreak of World War I, Paish advised the Chancellor on how to avert a financial crisis by having the British government guarantee London's banks to keep them from closing. A dedicated Liberal and staunch Free-Trader, Paish analyzed England's economy for decades. After World War I, he repeatedly warned bankers and policy makers of the consequences of their decisions through lectures, articles, and books. His recovery plan proposed free-trade solutions for the world's economic struggles.

Paish's experience and expertise provide a unique opportunity for examining early twentieth century British politics and economic policy.

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