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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;igou was enthusiastic, but not a supremely great, climber; he introduced to climbing many who, like Wilfrid Noyce, became greater climbers. He remained at Cambridge, but during the vacations was an ambulance driver at the front for the Friends’ Ambulance Unitand insisted on undertaking jobs of particular danger.

Thank You for Your Contribution! In some repects Pigou, even if imprecise, at least was on the side of the angels: An illness affecting his heart developed in the early s, however, and this affected his vigour, curtailing his climbing and leaving him with phases of debility for cdcil rest of his life. When Pigou asked for something to be published in the Economic Journal, which at that time Keynes and I edited, Artthur would accept it without demur but would seek arthue persuade Pigou to agree to minor changes on points where he believed that subsequent discussion might show Pigou to be wrong.

One of his early acts was to provide private financial support for John Maynard Keynes to work on probability theory. If he believed, rather than proved, that a transfer from richer to poorer was likely to increase welfare, it was, one suspects, partly because he was the sort of person he was.

Chamberlain’s Proposals”,The Edinburgh Review v. He was lecturing insurprisingly, on the history of labor in the nineteenth century.

Pigou, Arthur Cecil

This page was last edited on 15 Decemberat Chamberlain’s Policy”,Fortnightly Reviewp. It was through exposure while climbing that he acquired an illness affecting the heart, which from the beginning of the s increasingly curtailed both his climbing and his other activities. Curiously, this eloquence and clarity in teaching did not ordinarily carry over, as ccil did so abundantly in the case of Keynes, to an enjoyment of personal argument and discussion with his pupils.


In his later years he gradually became more of a recluse, emerging occasionally from his rooms to give lectures or to take a walk.

Arthur Cecil Pigou

He worked incessantly and regularly at his books. All structured data from the main, property and lexeme namespaces is available under the Creative Commons CC0 License ; text in the other namespaces is available under the Creative Commons Attribution-ShareAlike License ; additional terms may apply.

He served as a member of the committee on currency and foreign exchange and of the royal commission on income tax Your contribution may be further edited by our staff, and its publication is subject to our final approval. He was professor of political economy at Cambridge from to Foxwellwho had reluctantly accepted the chair at UCL back inon the promise that he would return to succeed Marshall at Cambridge.

It affected his lecturing: British economist Arthur C. In he was admitted to King’s College, Cambridge[2] as a history scholar where he first read history under Oscar Browning.

HET: Arthur C. Pigou

Pigou began lecturing on economics in and started giving the course on advanced economics to second year students on which was based the education of many Cambridge economists over the next thirty years. There were also a variety of smaller books of essays and lectures; as well as some elementary and pedagogic writings of lesser importance. He was almost certainly thinking in terms of minor, marginal changes within the framework of a liberal society.

In these years it was as a lecturer that Pigou was at his best. Royal Netherlands Academy of Arts and Sciences. Unfortunately, our editorial approach may not be able to accommodate all contributions.

Pigou died on March 7,at the age of He rejected the idea of a progression from perfect competition to monopoly through a chain of closer and less close substitutes. The Columbia Encyclopedia, 6th ed. His work covered various fields of economics, particularly welfare economicsbut also included Business cycle theory, unemployment, public financeindex numbersand measurement of national output. He used statistics but rarely, and only to establish or to indicate the order of magnitude of some relevant fact.


Other schools and fields of economics environmental economics In environmental economics: Further Reading No biography or complete bibliography of Pigou’s work has been published.

In a competitive economy, decisions are made in such a way as to maximize private net product but not necessarily social net product. It was expanded vastly over the next thirty years and, as The Economics of Welfare aplayed a major part in the education of the Cambridge economists of the s and s, and indeed of economists generally. The subsequent piguo of welfare theory have started with the problem of cecl meaning and measurability of utility and that of the validity of interpersonal comparisons and have inevitably led to the difficulties of measuring the national income in welfare terms and defining the circumstances in which it can be said to have increased.

Canadian Journal of Economics and Political Science Wikiquote 1 entry edit. His father was a retired army officer, descended from a Ligou line which had long had connections with India and China, first as traders, in later generations as civil servants.

He consumed all that was written in economics, seeking always realistic illustrations for quotation in his own work, and in addition he devoured every detective story available. Major Works of Arthur C. Views Read View ceccil. Leonardo da Vinci, Italian: