The Economics of Welfare
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The Economics of Welfare is a foundational 1920 economics treatise by Arthur Cecil Pigou that systematically develops welfare economics and the concept of externalities to analyze the role of government in correcting market failures.
Aliases (1)
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
book
→
economics treatise → |
| analyzes |
divergence between marginal private benefit and marginal social benefit
→
divergence between marginal private cost and marginal social cost → |
| author |
Arthur Cecil Pigou
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|
| contributedTo |
analysis of market failure
→
development of externality theory → formalization of welfare economics → theory of corrective taxation → |
| countryOfOrigin |
United Kingdom
→
|
| examines |
conditions for maximizing the national dividend
→
impact of increasing returns on welfare → impact of monopoly on welfare → labor market imperfections → poverty and social policy → relationship between welfare and national income → unemployment policy → |
| fieldOfStudy |
economics
→
public finance → welfare economics → |
| firstEditionYear |
1920
→
|
| focusesOn |
Pigouvian taxes
→
conditions for economic efficiency → distribution of income and welfare → divergence between private and social net product → measurement of social welfare → national dividend → role of taxes and subsidies → unemployment and welfare → |
| hasAlternativeTitle |
Pigou: The Economics of Welfare
→
|
| hasEdition |
fourth edition
→
second edition → third edition → |
| hasInfluenced |
cost–benefit analysis
→
environmental economics → modern public economics → policy design for externalities → |
| isConsidered |
classic of economic theory
→
foundational work in welfare economics → |
| language |
English
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|
| mainSubject |
economic welfare
→
externalities → government intervention in the economy → market failure → public economics → welfare economics → |
| proposesConcept |
Pigouvian tax
→
|
| publicationYear |
1920
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|
| publisher |
Macmillan
→
|
Referenced by (7)
| Subject (surface form when different) | Predicate |
|---|---|
|
Industrial Fluctuations
→
Principles and Methods of Industrial Peace → Wealth and Welfare → |
relatedWork |
|
Pigouvian taxes
→
|
describedInWork |
|
The Economics of Welfare
("Pigou: The Economics of Welfare")
→
|
hasAlternativeTitle |
|
Wealth and Welfare
→
|
influenced |
|
Arthur Cecil Pigou
→
|
notableWork |