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Arthur Cecil Pigou (/ ˈ p iː ɡ uː /; 18 November 1877 – 7 March 1959) was an English economist.As a teacher and builder of the School of Economics at the University of Cambridge, he trained and influenced many Cambridge economists who went on to take chairs of economics around the world.
Europe’s generous welfare states are coming under increasing strain as weak economic growth collides with rising demands on government budgets, particularly from aging populations. Donald Trump ...
Trump is testing how much radicalism, disorder, and lawlessness voters will tolerate. His potential successors should be taking detailed notes. Trump 2.0 will test how voters measure prosperity ...
Economic shifts are on the horizon, affecting taxes, healthcare and housing as the inauguration of President-elect Donald Trump approaches. Learn More: 3 Things Retirees Should Sell To Build...
The Pigou–Dalton principle (PDP) is a principle in welfare economics, particularly in cardinal welfarism. Named after Arthur Cecil Pigou and Hugh Dalton, it is a condition on social welfare functions. It says that, all other things being equal, a social welfare function should prefer allocations that are more equitable. In other words, a ...
Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity. Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare. Welfare can be defined in terms of well-being, prosperity, and overall state of being.
The president's plan to offer $12 billion in government assistance to farmers impacted by his trade war with China drew swift criticism from members of his own party.
There are two fundamental theorems of welfare economics. The first states that in economic equilibrium , a set of complete markets , with complete information , and in perfect competition , will be Pareto optimal (in the sense that no further exchange would make one person better off without making another worse off).