Pigou, Arthur Cecil

Pigou, Arthur Cecil pĭ´go͞o [key], 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).

The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.

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The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.