A. C. Pigou

About the Author

A. C. Pigou (1877–1959) was a pioneering British economist and academic whose groundbreaking contributions to welfare economics and public policy continue to influence modern thought. Educated at King's College, Cambridge, where he later became a professor, Pigou developed the concept of externalities, advocating for government intervention to address market failures and promote social welfare. His seminal work, The Economics of Welfare, laid the foundation for analyzing how economic activities impact societal well-being, emphasizing the role of taxation and regulation in mitigating negative externalities like pollution. Beyond theoretical economics, Pigou engaged with practical issues, as seen in his collaborative efforts to reorganize industry with input from trade unionists and co-operators. A principled intellectual committed to ethical economics, Pigou's legacy endures in discussions of sustainability and equity.