By Nahid Aslanbeigui, Guy Oakes
The British economist Arthur Cecil Pigou (1877-59) reconceptualized economics as a conception of monetary welfare and a good judgment of coverage research. Misconceptions of his paintings abound. This ebook, an essay in demystification and the 1st analyzing of the complete Pigouvian oeuvre, stresses his pragmatic and historicist premises.
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Additional info for Arthur Cecil Pigou
He wanted to secure his legacy. He hoped to improve the competitiveness of the University and the quality of its graduates. And he was intent on strengthening the scientific basis of British social and economic policy. Following Pigou’s election, Henry Higgs, a friend and former student of Foxwell, began to raise funds for a second Cambridge professorship in economics that would be offered to him. On 13 December 1908, Marshall wrote Neville Keynes that if Higgs succeeded, he would be compelled to support John Clapham over Foxwell for the new chair.
Fay, another Cambridge economist and also a fellow of King’s, wrote Maynard a speculative letter on the possibilities that the professorial election might open up. At that time, there was only one University lectureship in economics, the position endowed by the Girdlers Company and held by Pigou. If Pigou were elected professor, this lectureship would become vacant. In addition, Marshall’s successor might decide to continue his practice of paying additional lecturers £100 from his professorial stipend.
Pending a specific outcome of the election, someone – presumably Pigou – would propose to the Board that Keynes be asked to lecture. If the Board agreed, Keynes would be paid a fee of £100, either by Marshall or by someone else, again, presumably Pigou (3/4/1908, Marshall 1996b, 186–7). When he wrote this letter, Marshall surely anticipated that Maynard would consult his father. He also knew that his offer would confront Neville Keynes as professorial elector with a conflict of interest by giving him a compelling reason to vote for Pigou.
Arthur Cecil Pigou by Nahid Aslanbeigui, Guy Oakes