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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.
Sweezy's first formally published paper on economics was a 1934 article entitled "Professor Pigou's Theory of Unemployment," published in the Journal of Political Economy in 1934. [3] Over the rest of the decade Sweezy wrote prolifically on economics-related topics, publishing some 25 articles and reviews. [3]
Professor Pigou's theory runs, to a quite amazing extent, in real terms... The ordinary classical economist has no part in this tour de force. But if, on behalf of the ordinary classical economist, we declare that we would have preferred to investigate many of those problems in money terms, Mr. Keynes will reply that there is no classical ...
Early monetary theorists Alfred Marshall, Arthur Cecil Pigou, and Keynes were based at University of Cambridge. [6] Pigou and Keynes were associated with the constituent King's College (chapel shown above). [7] Macroeconomics descends from two areas of research: business cycle theory and monetary theory.
The Pigou effect was first popularised by Arthur Cecil Pigou in 1943, in The Classical Stationary State an article in the Economic Journal. [4] He had proposed the link from balances to consumption earlier, and Gottfried Haberler had made a similar objection the year after the General Theory's publication. [5]
Wage rates were discussed in a criticism of Pigou. [47] In autumn 1933 Keynes's lectures were much closer to the General Theory, including the consumption function, effective demand, and a statement of 'the inability of workers to bargain for a market-clearing real wage in a monetary economy'. [48] All that was missing was a theory of investment.
Theories on the causes of poverty are the foundation upon which poverty reduction strategies are based. While in developed nations poverty is often seen as either a personal or a structural defect, in developing nations the issue of poverty is more profound due to the lack of governmental funds.
The suit was filed on June 30, 1968, in the District Court for the Western District of Texas. In the initial complaint, the parents sued San Antonio ISD, Alamo Heights ISD, and five other school districts; the Bexar County School Trustees; and the State of Texas. They contended that the "Texas method of school financing violated the equal ...