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Encyclopedia > Arthur Pigou

Arthur Cecil Pigou (November 18, 1877 _ March 7, 1959) was an English economist, known for his work in many fields and particularly in welfare economics. He was a graduate of King's College, Cambridge, where he studied under Alfred Marshall. He later succeeded Marshall as professor of political economy. He served on a number of royal commissions including the 1919 commission on income tax.


Pigou pioneered welfare economics. Pigovian taxes, taxes used to correct negative externalities, are named in his honor.


Pigou was a professor of economics at Cambridge University from 1908 to 1943. In 1920, he published the influential book The Economics of Welfare.


Selected works

  • The Economics of Welfare, 4th ed. 1932.ISBN 0765807394
  • Keynes's General Theory: A Retrospective View. 1950.
  • The Political Economy of War. 1921.
  • The Theory of Unemployment. 1933.
  • Unemployment. 1914.
  • Wealth and Welfare. 1912.

See also







  Results from FactBites:
 
Search Encyclopedia.com (525 words)
Arthur was the illegitimate son of Uther Pendragon, king of Britain, and Igraine, the wife of Gorlois of Cornwall.
Arthur I Arthur I, 1187-1203?, duke of Brittany (1196-1203?), son of Geoffrey, fourth son of Henry II of England and Constance, heiress of Brittany.
Arthur, a posthumous child, was proclaimed duke in 1196, and an invasion by his uncle King Richard I of England was repulsed with French aid.
Origin of the Idea (1120 words)
Pigou, a British welfare economist (meaning that his economic theories focuses on maximizing the well-being of society), studied at King's College in Cambridge and later served as the chair of political economy at Cambridge from 1908 to 1943.
Pigou is also known for his contributions to the aggregate demand-aggregate supply model (the "real balances effect"), and to theories of price discrimination.
Pigou's reasoning was that the marginal utility of a dollar for a poor man was greater than for a rich man, and so by transferring dollars from the rich to the poor, the net gain in social welfare would be positive.
  More results at FactBites »


 

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