"THE FATHER OF MODERN WELFARE ECONOMICS"
PIGOU, Arthur Cecil. The Economics of Stationary States. London: Macmillan, 1935. Octavo, original blue cloth.
First edition of this important economics work.
A devoted student of Marshall, Pigou became the main source for passing on the "Marshallian" tradition of economics at Cambridge and its most vigorous defender against Keynesian economics. "Known as the father of modern welfare economics, which studies how to make economies operate more efficiently as well as the trade-offs between efficiency and equity, Pigou is also one of the founders of modern public finance… The way that economists analyze and justify government intervention in economic affairs stems from Pigou. It is for this reason that the relatively new field of environmental economics rests squarely upon his shoulders" (Pressman, 97-99). "With The Economics of Stationary States, Pigou moved toward abstract theory and formal model building" (Niehans, 319). Without scarce original dust jacket.
Faint spotting to rear board. A fine copy.