A Study in Public Finance.
PIGOU Arthur Cecil (1928.)
£175.00 [First Edition]
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First edition. 8vo. xvii, , 323, , pp. Original green cloth, spine lettered and ruled in gilt, ruling continued to boards in blind (head of spine slightly rubbed, spine and top edge of front board faded, some minor foxing to endpapers, else a very good copy). London, MacMillan and Co.
An important theoretical work by the British economist Arthur Cecil Pigou on the dynamics of public finance. A disciple of Alfred Marshall, under whom he studied and would come to succeed as professor of political economy at Cambridge, Pigou's legacy has in some ways been overshadowed by the overwhelming influence of Keynes, who in reality owed much to Pigou's ideas. Indeed, the term 'Pigou Effect', denoting the process of increased output and employment through the stimulation of consumption by the lowering of price, formed the backbone of what Keynes would later develop into what we now commonly understand as the principles of supply and demand.
Stock Code: 230670