Abstract
Abctract. Before there was Keynes, there was Pigou. Both students of the acclaimed Alfred Marshall, both went on to make foundational contributions to economic thought. Keynes’s star in macroeconomics surpassed Pigou, but Pigou’s contribution to micro and welfare economics are pinnacles in their own right. The late 19th and early 20th century Cambridge economics faculty is frequently over looked by the more recent developments in economics by the University of Chicago and Massachusetts Institute of Technology.
Keywords. Welfare economics.
JEL. D60, H63, H75, I30.
References
Pigou, A.C. (1912). Wealth and Welfare. MacMillian, London.
Pigou, A.C. (1920). The Economics of Welfare. MacMillian, London.
Pigou, A.C. (1951). Some aspects of welfare economics. American Economic Review, 41, 287-302.
Schumpeter, J. (1942). Capitalism, Socialism, and Democracy. Harper and Brothers. New York.
