Home > Arthur Cecil Pigou

Pigou pioneered welfare economics. Pigovian taxes, taxes used to correct negative externalities, are named in his honor.

Pigou was a professorA professor is a senior teacher and researcher, usually in a college or university. Overview Professors give lectures and seminars in their field of study, such as science or literature. They also do advanced research in their fields and are supposed to d of economics at Cambridge University from 1908 to 1943. In 1920, he published the influential book The Economics of Welfare.

Selected works

• The Economics of Welfare, 4th ed. 1932.
• Keynes's General Theory: A Retrospective View. 1950.
• The Political Economy of War. 1921.
• The Theory of Unemployment. 1933.
• Unemployment. 1914.
• Wealth and Welfare. 1912.

See also: Pigovian taxSocial cost in economics, is the total of all the costs associated with an economic activity. It includes both costs borne by the economic agent and also all costs borne by society at large. It includes the costs reflected in the organization's production