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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One very important aspect of it is as follows.
Arthur Cecil Pigou. —
It should be counted, because the incomes of companies and individuals were reckoned as what was left after these taxes had been paid, so that, if the income represented by them had not been counted when in the hands of the Treasury, it would not have been counted at all. Most nearly akin to the metaphysician is the student of the ultimate problems of physics. Secondly, this task is one in attacking which the principal weapon employed by other sciences in their inquiries cannot be fully used.
We have now to study the problem of devising an appropriate measure. We now turn to the second main problem of this chapter. In this event, however, humanity will take no interest, for the demise of the last capital item will certainly have been preceded by that of the “last man. These things are paradoxes. With proper account-keeping this clearly ought to be so. It is affected, too, by the influence which these people exert on others with whom they may be brought into personal contact.
It must, therefore, be clearly recognised that the effect upon economic welfare of the policy which a State adopts towards agriculture, shipping and industries producing war material is often a very subordinate part of its whole effect. We should have two figures, one giving the change from the point of view of the tastes and distribution of period I.
Most causes, in short, will increase the dividend from both points of view or diminish it from both points of view. It is theoretically possible to make an inventory of them and also to evaluate them from day to day.
If the failure to provide replacements is carried to the point that henceforward none whatever are forthcoming, the stock of capital must, of course, eventually disappear altogether. The “plain man,” who in physics and chemistry knows that he does not know, has still to attain in economics to that first antechamber of knowledge.
In fact we may, I think, say quite generally that all contractions in the money value of any parts of the capital stock that remain physically unaltered are irrelevant to the national dividend; and that their occurrence is perfectly compatible with the maintenance of capital intact. But “the services which a person renders to himself and those which he renders gratuitously to members of his family or friends; the benefits which he derives from using his own personal goods [such as furniture and clothes], or public property such as toll-free bridges, are not reckoned as parts of the national dividend, but are left to be accounted for separately.
When we elect to watch the play of human motives that are ordinary — that are sometimes mean and dismal and ignoble — our impulse is not the philosopher’s impulse, knowledge for the sake of knowledge, but rather the physiologist’s, knowledge for the healing that knowledge may help to bring.
Environmental causes operating to change economic satisfactions may, therefore, either in the same act or as a consequence of it, alter some of these other elements.
What we wish to learn is, not how large welfare is, or has been, but how its magnitude would be affected by the introduction of causes which it is in the power of statesmen or private persons to call into being. Frases de Arthur Pigou. At one end of the piou stands the most general science of all, metaphysics, the science of reality.
But there is no guarantee that the effects produced on the part of welfare that can be brought into relation with the measuring-rod of money may not be cancelled by effects of a contrary kind brought about in other parts, or aspects, of welfare; and, if this happens, the practical usefulness of our conclusions is wholly destroyed. Thus, ecinomia in consequence of a contraction in the supply of money in any year, money values all round are economis reduced, the money value of the stock of pigu will contract along with the rest; but nobody would suggest that this should arthhr reckoned when the national dividend is being estimated.
First, the relations which have to be determined are extremely numerous. Suppose, for example, that a person’s telescopic faculty is such that he discounts future satisfactions, which are perfectly certain to occur, at the rate of 5 per cent per annum.
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Our problem then becomes: For pure economics both these political economies would be equally true; it would not be relevant to inquire what the value of x is among the actual men who are living in the world now. Hence, the range of our inquiry becomes restricted to that part of social welfare that can be brought directly or indirectly into relation with the measuring-rod of money.
While fully recognising “the paramount Edition: As between distant years, however, in the later of which a great number plgou important commodities may be available that did not exist at all in the earlier ones, a measure that ignored new commodities would be almost worthless as a gauge of changes as defined in the preceding chapter in the size of the national dividend. He was a conscientious objector to military service when it required an obligation to destroy human life.
Arthur Cecil Pigou,
If this be so, the economic satisfaction—it will be understood that we are speaking of satisfaction as measured in money—obtained by our group probably decreases or increases in the second pigiu according as either or any power of this expression, or any other formula which moves more or less as it does, is greater or less than unity.
We are concerned to understand, so far as may be, the nature of these associations. If the national dividend consisted of a number of different sorts of things, the proportion between which was not fixed, but some pre-established harmony made it impossible arhhur the quantity of any one of them to diminish when the quantity of any other pigiu increasing, we should no longer be dfl to say that the dividend at any moment consisted of such a number of units and at another moment of such another number of units.
Since, therefore, in view of the largeness of K 1 relatively to K 2there are more ways in which the satisfaction from the second year’s purchase can be less, than there are ways in which it can be more, than the satisfaction from the first year’s purchase, and since, further, the probability of any one of these different ways is prima facie equal to that of any other, it is probable that the satisfaction from the second year’s purchase is less than that from the economix year’s.
Arthur Cecil Pigou
In these circumstances there is no arthjr means of determining by a physical pigok whether the economja of one period is greater or less than that of another; and it becomes necessary to seek for a definition along other lines. Piyou is not artjur, 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. The consequence of this is that our definition leads in certain circumstances to results which, in appearance at least, are highly paradoxical.
Obviously, we must not count December strawberries along with ordinary strawberries, and so make inventions for strawberry forcing raise the price of strawberries, but must reckon December strawberries as a new and distinct commodity. When a capital stock deteriorates, e. If this conclusion is correct it follows that, when of the expressions and one is greater and the other less than unity, there is no intermediate artjur of which we can say artnur general terms that the economic satisfaction obtained by our group probably increases or decreases in the second period according as the expression is greater or less than unity.
A measure of this kind would conform exactly to our criterion. Our criterion of increase from the point of view of any period being that, with the tastes and distribution of that period, the money demand for the things that have been added to the dividend exceeds the money demand for the things taken away from it, it is natural to suggest that we should employ as a measure of increase, from the point of view of the period, the proportion in which the aggregate money demand for the things contained in the dividend of that period in the sense of the amount of money that people would be willing to give rather than do without those things exceeds the aggregate money demand for the things contained in the dividend of the other period.
To this general conclusion, however, there is one very important exception. He remained at Cambridge, but during the vacations was an ambulance driver at the front for the Friends’ Ambulance Unitand insisted on undertaking jobs of particular danger.