Arthur Pigou


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Arthur Pigou

A 20th-century English economist. He was noted for his contributions to welfare economics (the use of microeconomic data to measure the health of an economy) and externalities (the costs or benefits of a transaction to parties who do not directly participate in it). He lived from 1877 to 1959. See also: Pigouvian taxes.
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A former Bush economic advisor, Greg Mankiw, recently announced the formation of the Pigou Club (named for the British economist Arthur Pigou, a colleague of John Maynard Keynes), an informal and involuntary alliance of economists and commentators who advocate carbon or energy taxes, or other "Pigovian" taxes that have the simultaneous effect of raising revenues and reducing consumption of something undesirable.
Read my lips: raise taxes: the era of the tax revolt is over. How Democrats have an opportunity to redefine the politics of government
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