PIGOU, Arthur Cecil
The Economics of Stationary States
London, Macmillan, 1935
8vo, original blue cloth with dust jacket, xi + 326 + 2 pp.; nice copy in a very good unclipped dust jacket, small stain to outer edge of textblock
First edition of this famous work in the field of political economy by Arthur Cecil Pigou (1877-1959). Pigou was a student of Alfred Marshall and named Professor of Political Economy at Cambridge in Marshall’s place in 1908. He is known for his conception of economics as a theory of economic welfare and a logic of policy analysis. The Economics of Stationary States represents Pigou’s analytical skill at its highest and is set entirely in the static equilibrium tradition of the classical school. The Pigou Club, named in his honour, is an association of modern economists who support the idea of a carbon tax to address the problem of climate change.
