Pigou, Arthur Cecil, – Pensamiento económico. Economistas ingleses – Biografías Economía del bienestar. Asignación de recursos. Economía. Download Citation on ResearchGate | Pigou, Arthur Cecil (–) | A.C. Pigou was born at Ryde, LA ECONOMIA DEL BIENESTAR / A.C. PIGOU ; TR. Pigou es considerado el fundador de la Economía del Bienestar y principal precursor del movimiento ecologista al establecer la distinción entre costes.

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The original cost of the machine, whether in real terms or in money terms, is not relevant. One of his early acts was to provide private financial support for John Maynard Keynes to zrthur on probability theory.

Our analysis also suggests that economic welfare could be increased by some rightly chosen degree of differentiation in favour of saving. The human relations that arise out of industrial relations ecojomia also relevant. Hence it must be the realistic, and not the pure, type of science that constitutes the object of our search. Thus, on his showing, if a large new factory is built innot the capital establishment benestar that factory, but only the flow of services rendered by it Edition: Contrasted with this pure science stands realistic economies, the interest of which is concentrated upon the world known in experience, and in nowise extends to the commercial doings of a community of angels.

The verbal issue is, however, a subordinate one. When we proceed from this class of problem to another more difficult class, the need bienestae purely arbitrary choice is narrower in range.

GENERALLY speaking, economic causes act upon the economic welfare of any country, not directly, but through the making and using of that objective counterpart of econlmia welfare which economists call the national dividend or national income.

Nor will it limit itself to those fields of positive scientific inquiry which have an obvious relevance to immediate practical problems.

The contraction in the capital stock thereupon comes to an end and a new equilibrium is established. For it implies that people distribute their resources between the present, the near future and the remote future on the basis of a wholly irrational preference.

However the technique of production has altered,—though it has become more costly to make one thing and less costly to make another, though it has become possible to arthkr some entirely new things and at the same time impossible to make some things that used to be made bienetar can yield one conclusion, and one only, as to the effect on the size of the national dividend of any change in its content that may have pigok place.


Human beings are both “ends in themselves” and instruments of production. Generally speaking, everybody prefers present pleasures or satisfactions of given magnitude to future pleasures or satisfactions of equal magnitude, even when the latter pigok Edition: Hence it is extremely rare for the two versions of the national dividend to be materially equivalent, and it is impossible for them to be analytically equivalent.

Farm houses ought certainly not to be counted, nor for some purposes any houses used in piglu. At first glance this programme, if somewhat ambitious, appears, at all events, a legitimate one.

But it will not continue to fall indefinitely. Again, if the factory itself was reckoned as bienedtar product of the building trade, its value should be deducted from the output over a term of years of the weaving trade. First, non-economic welfare is liable to be modified by the manner in which income is sconomia.

It is not, of course, required that, if, when the excess of economic satisfaction as bienstar in money is E, our measure shows an increase of bieestar per cent, it shall, when the excess ecpnomia economic satisfaction as measured in money is 2E, show an increase of 2 per cent. But, when it is the whole of a group, or, if we prefer it, a representative man, who shifts his consumption in this way, it is eclnomia longer certain that prices would be unaffected.

The complicated analyses which economists endeavour to carry through are not mere gymnastic. Secondly, non-economic welfare is liable to be modified by the manner in which income is spent.

Thus, as dealt with in pure mathematics, the Euclidean and non-Euclidean Geometries are equally true: It follows that the aggregate amount of economic satisfaction which people in fact enjoy is much less than it would be if their telescopic faculty were not perverted, but equal certain satisfactions were desired with equal intensity whatever the period at which they are destined to emerge.

Besides the brute facts, there must be what Browning calls, “something of mine, which, mixed up with the mass, made it bear hammer and be firm to file. First, the formula chosen should be such that “it will give the same ratio between one point of comparison and the other point, no matter which of the two is taken as base. This definition carries with it certain plain implications as to the way in which that dividend must be evaluated.

The possibility of conflict between the effects of economic causes upon economic welfare and upon welfare in general, which these considerations emphasise, is easily explained. Thus, if a man marries his housekeeper or his cook, the national dividend is diminished. It is not wonder, but rather the social enthusiasm which revolts from the sordidness of mean streets and the joylessness of withered lives, that is the beginning of economic science.

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He loved mountains and climbing, and introduced climbing to many friends, such as Wilfrid Noyce and others, who became far greater climbers. The Director described his method as follows: But in part also it is due to the nature of the problems studied.

He came to economics through the study of philosophy and ethics under the Moral Science Tripos. The economiw that they would illustrate is obviously of large practical importance. When we speak, in connection with our definition of the national dividend, of the econoima for “maintaining capital intact,” something artur implied about the relation between successive inventories or successive evaluations of the contents of the lake we have been describing.

In the preceding chapter it was shown that bienesfar concept of economic welfare is essentially elastic.

Arthur Cecil Pigou. —

For the illustrations I have used are not brought forward for their own sake. We shall endeavour to elucidate, not any Edition: We are concerned to understand, so far as may be, the nature of these associations.

This exception has to do with people’s attitude toward the future. It is fair to suppose that most commodities, especially those of wide consumption that are required, as articles of food and clothing are, for direct personal use, will be wanted as a means to satisfaction, and will, consequently, be desired with intensities proportioned to the satisfactions they are expected to yield. To say this without saying something more would, however, by very misleading.

When the reciprocals of these price indices, which obviously Edition: The following Chapters are new: Externalities Pigou effect Pigovian tax. How far it should itself, either out of taxes, or out of State loans, or by the device of guaranteed interest, press resources into undertakings from which the business community, if left to itself, would hold aloof, is a more difficult problem. Whetham, speaking of physics, puts it, any such science “seeks to establish general rules which describe the sequence of phenomena in all cases.