Arthur Cecil Pigou Pigou was a British economist (), disciple of Alfred Marshall, whom he succeeded as a professor at Cambridge. Arthur Cecil Pigou (November 18, – March 7, ) was an English economist. As a teacher and builder of the school of economics at Cambridge. Arthur Cecil Pigou (–), professor of political economy at Cambridge University from to , is today best known for his contributions to the.
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Pigou, Arthur Cecil
In his early days he lectured on a variety of subjects outside economics. Retrieved December 26, from Encyclopedia. Retrieved from ” https: In all practical affairs we act on that supposition. His idea, now known as the Pigouvian tax, is to force producers to pay a tax equal to the external damage caused by their production decisions in order to allow…. In his later years he gradually became more of a recluse, emerging occasionally from his rooms to give lectures or to take a walk.
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cecip Pigou was elected to the British Academy inbut resigned in His cecill stand so well states not only his own attitude and that of Robertson who in this, as in many other respects, remained his pupil and adherent but also the attitude of many working economists, other than the specialists in this field, that it deserves quotation in full:. Your contribution may be further edited by our staff, and its publication is subject to our final approval.
He served as a member of the committee on currency and foreign exchange and of the royal commission on income tax His thinking remained primarily that of a philosopher trained in analysis. He also served on the Royal Commission on Income Tax —20 and on two committees on the currency —19; — He loved mountains and climbing, and introduced climbing to many friends, such as Wilfrid Noyce and others, who became far greater climbers. He ended his schooldays as the first boy on the modern side to be head of the school.
When Pigou asked for something to be published in the Economic Journal, which at that time Keynes and I edited, Keynes would accept it without demur but would seek to persuade Pigou to agree to minor changes pigku points where he believed that subsequent discussion might show Pigou to be wrong. He was a foreign honorary member of the American Arthuf of Arts and Sciencesa foreign member of the Accademia dei Linceiand an honorary resident of the International Economic Committee.
British economist Arthur C. Externalities Pigou effect Pigovian tax.
Arthur Cecil Pigou | British economist |
His main claim to fame is his Wealth and Welfarerevised as Economics of Welfare. He is not, in that sense, to be ranked with Smith, Ricardo, Marshall, or Keynes, if one thinks only of the British school. Wikisource 2 entries edit. At Harrow he was a good enough athlete to win approval in an age in which athletics carried more honor than did scholarship and serious enough scholar to win many of the prizes open to Harrovians.
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Appropriate taxes and subsidies could, however, make private and social net products equal, thus leading each individual to behave in a way that maximizes social welfare. Pigou developed a taxation method for dealing with the goods suffering from externalities.
Arthur Cecil Pigou
Into this ;igou world few women were admitted; the exceptions in later life were the wives of his climbing friends and other women who knew him in that life. Virtual International Authority File.
He was almost certainly thinking in terms of minor, marginal changes within the framework of a liberal society. It was through exposure while climbing that artuhr acquired an illness affecting the heart, which from the beginning of the s increasingly curtailed both his climbing and his other activities. Unfortunately, our editorial approach may not be able to accommodate all contributions.
If you prefer to suggest your own revision of the article, you can go to edit mode requires login. He achieved, however, no distinction as a civil servant.
But even with the addition of the compensation principle, these discussions have tended to leave untouched ceckl large number of real cases in which as in the case of redistributional taxation the poorer may be supposed to benefit at the expense of the richer who will suffer some loss; even the compensation principle does not provide a artuur and satisfactory solution.
Sidgwick, in dealing at a less rigorous level with the same problem, had made use of the idea of divergence between utility to pjgou individual and utility to society.
