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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.
Arthur Cecil Pigou; The Economics of Welfare, 4th ed. 1932; Description: Pigou was one of the most influential economists that dealt with Welfare economics. He developed the idea of Pigovian tax. Importance: Topic creator, breakthrough, influence
The Pigou Club is described by its creator, economist Gregory Mankiw, as a “group of economists and pundits with the good sense to have publicly advocated higher Pigouvian taxes, such as gasoline taxes or carbon taxes." [1] A Pigouvian tax is a tax levied to correct the negative externalities (negative side-effects) of a market activity.
Welfare economics is a field of economics that applies microeconomic techniques to evaluate the overall well-being (welfare) of a society. [ 1 ] The principles of welfare economics are often used to inform public economics , which focuses on the ways in which government intervention can improve social welfare .
Book X: A World of Monopolies - This book moves away from the theory of value and delves into the Economics of Welfare. It connects the analysis of monopoly value with the work of Pigou on welfare economics. The book raises ethical questions and explores the implications of a world dominated by monopolies.
FILE - A collection of books about President Donald Trump, from left, "Siege" by Michael Wolff, "Devil's Bargain" by Joshua Green, "Where Law Ends" by Andrew Weissmann, "A Higher Loyalty: Truth ...
Trump’s rambling, word-salad of an answer to my question at the Economic Club of New York set off a firestorm. We’ve learned something about Trump: he has no plan to address the childcare crisis.
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 ...