PIGOU, Arthur Cecil.

Wealth and Welfare.

London: Macmillan and Co, Limited, 1912 Stock Code: 121098
£500.00

The work which established Pigou's reputation as a leading economist

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Notes

First edition, first impression, of Pigou's early work which established his reputation as a leading economist and which formed the basis for his major work, The Economics of Welfare (1920), which is considered to have "virtually created the subject of welfare economics" (ODNB). He was in many ways overshadowed through the first half of the twentieth century by the great Keynes whose ideas in no small part owed much to this important economist of the previous generation. The term "Pigou Effect" came to refer to the rise in consumption driven by the lowering of price. Keynes of course would later develop this idea into what we all know as the principles of supply and demand.

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Description

Octavo. Rebound in modern black quarter morocco, 2 green morocco labels to second and fourth compartments, spine ruled in gilt, raised bands, red cloth boards, marbled endpapers, relined, uncut edges.

Condition

A few nicks to fore edges and the occasional dampstain, otherwise a bright copy.

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