Pigou, Arthur Cecil

(pĭ`go͞o), 1877–1959, British economist, grad. King's College, Cambridge. He was a lecturer at University College, London, and at Cambridge. He was professor of political economy at Cambridge from 1908 to 1943. He served as a member of the committee on currency and foreign exchange (1918) and of the royal commission on income tax (1919). He was a leading exponent of the theory that economic waste due to unemployment, poor health, and poor housing is a responsibility of society, which should bear the costs. Among his many works are Wealth and Welfare (1912), The Economics of Welfare (1920), The Political Economy of War (1921; new ed. 1941), The Theory of Unemployment (1933), Socialism versus Capitalism (1937), and Income: An Introduction to Economics (1946).

Pigou, Arthur Cecil

Born Nov. 18, 1877, in Ryde, Isle of Wight; died Mar. 7, 1959, in Cambridge. English economist, representative of the Cambridge school of bourgeois political economy.

A student and follower of A. Marshall, Pigou was educated at Cambridge University, where he occupied the chair of political economy from 1908 until 1943. He was a member of the Committee on Currency and Foreign Exchange in 1918-19, the Royal Commission on Income Tax in 1919-20, and the Chamberlain Committee on Currency in 1924-25. The report of the last committee led to a short-lived restoration of the gold standard in Great Britain.

Pigou investigated a variety of economic issues, including tariff policy, cyclical fluctuations in industrial production, employment, and state finances. His Economics of Welfare (1920), which was first published in 1912 as Wealth and Welfare, already contains the seed of the later theory of the welfare state. Pigou’s elaboration of the concept of the economics of welfare helped make the necessity of state intervention in economic life a tenet of bourgeois economics. The bourgeois essence of Pigou’s economic views is especially evident in his approach to unemployment, which he considered a consequence of supposedly excessive wages for workers. Such an interpretation is theoretically unsound and in practice is directed against the interests of the working class.

WORKS

Industrial Fluctuations. London, 1929.
The Economics of Stationary States. London, 1935.
Employment and Equilibrium. London, 1949.
A Study in Public Finance. London, 1949.

E. P. RUSAKOV

Pigou, Arthur Cecil

(1877–1959) an English economist who developed the theory of WELFARE ECONOMICS in his book The Economics of Welfare (1919). Pigou preferred to accept market prices as indicators of the relative utilities of different goods, but he argued that divergence between private returns and social returns could necessitate taxes and subsidies to achieve an optimal allocation of resources. This distinction between marginal private net product and marginal social net product provided a case for state intervention to increase the efficiency of resource allocation. Pigou thought that interpersonal comparisons have to be made in formulating policy, and he made out a case for a more equitable DISTRIBUTION OF INCOME on the ground of diminishing marginal utility of income.

See REAL BALANCE EFFECT.

Pigou, Arthur Cecil

See REAL BALANCE EFFECT.

单词	pigou, arthur cecil
释义	Pigou, Arthur Cecil Pigou, Arthur Cecil (pĭ`go͞o), 1877–1959, British economist, grad. King's College, Cambridge. He was a lecturer at University College, London, and at Cambridge. He was professor of political economy at Cambridge from 1908 to 1943. He served as a member of the committee on currency and foreign exchange (1918) and of the royal commission on income tax (1919). He was a leading exponent of the theory that economic waste due to unemployment, poor health, and poor housing is a responsibility of society, which should bear the costs. Among his many works are Wealth and Welfare (1912), The Economics of Welfare (1920), The Political Economy of War (1921; new ed. 1941), The Theory of Unemployment (1933), Socialism versus Capitalism (1937), and Income: An Introduction to Economics (1946). Pigou, Arthur Cecil Born Nov. 18, 1877, in Ryde, Isle of Wight; died Mar. 7, 1959, in Cambridge. English economist, representative of the Cambridge school of bourgeois political economy. A student and follower of A. Marshall, Pigou was educated at Cambridge University, where he occupied the chair of political economy from 1908 until 1943. He was a member of the Committee on Currency and Foreign Exchange in 1918-19, the Royal Commission on Income Tax in 1919-20, and the Chamberlain Committee on Currency in 1924-25. The report of the last committee led to a short-lived restoration of the gold standard in Great Britain. Pigou investigated a variety of economic issues, including tariff policy, cyclical fluctuations in industrial production, employment, and state finances. His Economics of Welfare (1920), which was first published in 1912 as Wealth and Welfare, already contains the seed of the later theory of the welfare state. Pigou’s elaboration of the concept of the economics of welfare helped make the necessity of state intervention in economic life a tenet of bourgeois economics. The bourgeois essence of Pigou’s economic views is especially evident in his approach to unemployment, which he considered a consequence of supposedly excessive wages for workers. Such an interpretation is theoretically unsound and in practice is directed against the interests of the working class. WORKS Industrial Fluctuations. London, 1929. The Economics of Stationary States. London, 1935. Employment and Equilibrium. London, 1949. A Study in Public Finance. London, 1949. E. P. RUSAKOV Pigou, Arthur Cecil Pigou, Arthur Cecil (1877–1959) an English economist who developed the theory of WELFARE ECONOMICS in his book The Economics of Welfare (1919). Pigou preferred to accept market prices as indicators of the relative utilities of different goods, but he argued that divergence between private returns and social returns could necessitate taxes and subsidies to achieve an optimal allocation of resources. This distinction between marginal private net product and marginal social net product provided a case for state intervention to increase the efficiency of resource allocation. Pigou thought that interpersonal comparisons have to be made in formulating policy, and he made out a case for a more equitable DISTRIBUTION OF INCOME on the ground of diminishing marginal utility of income. See REAL BALANCE EFFECT. Pigou, Arthur Cecil Pigou, Arthur Cecil (1877–1959) an English economist who developed the theory of WELFARE ECONOMICS in his book The Economics of Welfare (1919). Pigou preferred to accept market prices as indicators of the relative utilities of different goods, but he argued that divergence between private returns and social returns could necessitate taxes and subsidies to achieve an optimal allocation of resources. This distinction between marginal private net product and marginal social net product provided a case for state intervention to increase the efficiency of resource allocation. Pigou thought that interpersonal comparisons have to be made in formulating policy, and he made out a case for a more equitable DISTRIBUTION OF INCOME on the ground of diminishing marginal utility of income. See REAL BALANCE EFFECT.
随便看	national society for women's suffrage national society of accountants national society of agents for consumer education national society of allied health national society of allotment and leisure gardeners national society of ambulatory care pharmacists national society of architectural engineers national society of art directors national society of arts and letters national society of black artists national society of black engineers national society of black engineers hampton roads alumni extension national society of black physicists national society of career management national society of certified healthcare business consultants national society of certified insurance counselors national society of collegiate scholars national society of colonial dames national society of colonial families in america national society of consulting soil scientists national society of decorative painters national society of denture prosthetists national society of film critics national society of hebrew day schools national society of high school scholars