In 1917, Pigou published his classic article on “The Value of Money” in the Economic Journal. In 1920-21, Pareto wrote a manuscript on monetary theory, ‘Note Critiche di Teoria Monetaria’, but it was not published until 2005 when some fragments of that manuscript were located by Fiorenzo...

Eralier this year, Mario Pomini published an interesting book titled The Paretian Tradition during the Interwar Period: From Dynamics to Growth (London: Routledge pp162, $140.00, ISBN: 978-0-415-66140-9). In this brief paper, prepared for the History of Economic Thought and Policy, I review...

In this historical review we distinguish between two broad categories of value theories, objective and subjective, which focus respectively on the conditions of production and on the preferences of consumers. The objective approach to value theory is discussed with respect to classical political...

In 1955 the Accademia Nazionale dei Lincei awarded the inagural Internazionale “Antonio Feltrinelli” Premio per le Scienze Economiche e Sociali to Arthur Cecil Pigou. This paper provides some context to the episode and considers the establishment of the prize; the membership of the 1955...

In 1924-25 A. C. Pigou was a member of the “Committee on the Currency and Bank of England Note Issues”, which became known as the ‘Chamberlain-Bradbury’ Committee after its two successive chairmen. The historical context of that report, including Pigou’s highlighting of discussion...

In 1924-25 A. C. Pigou was a member of the “Committee on the Currency and Bank of England Note Issues”, which became known as the ‘Chamberlain-Bradbury’ Committee after its two successive chairmen. The Committee’s report is historically important for recommending a bold and quick...

This discussion paper is a draft of the general commentary for Paul Anthony Samuelson: Critical Assessments, which Routledge will publish in October 2004. The three-volume set is a collection of theoretical and applied articles, published between 1988 and 2003, that is intended to assist...

This paper marks the centenary of A. C. Pigou’s Wealth and Welfare, published by Macmillan in 1912. Consideration is given to the content and contributions of Wealth and Welfare and: its relationship to Pigou’s earlier articles; its relationship to Pigou’s subsequent work on wealth and...

In Pigou’s Wealth and Welfare, as well as in each of the four editions of his The Economics of Welfare, one chapter is dedicated entirely to the critical assessment, and ultimate rejection, of ‘Pareto’s law’ of income distribution. This note highlights Pigou’s uncorrected misreading of...