Top 4 Quotes & Sayings by Arthur Cecil Pigou

Explore popular quotes and sayings by an English economist Arthur Cecil Pigou.
Last updated on December 22, 2024.
Arthur Cecil Pigou

Arthur Cecil Pigou was an English economist. As a teacher and builder of the School of Economics at the University of Cambridge, he trained and influenced many Cambridge economists who went on to take chairs of economics around the world. His work covered various fields of economics, particularly welfare economics, but also included Business cycle theory, unemployment, public finance, index numbers, and measurement of national output. His reputation was affected adversely by influential economic writers who used his work as the basis on which to define their own opposing views. He reluctantly served on several public committees, including the Cunliffe Committee and the 1919 Royal Commission on Income tax.

If a man marries his housekeeper or his cook, the national dividend is diminished. — © Arthur Cecil Pigou
If a man marries his housekeeper or his cook, the national dividend is diminished.
The gravitation constant is the same always. But the economic constants-these elasticities of demand and supply-depending, as they do, upon human consciousness, are liable to vary. The constitution of the atom, as it were, and not merely its position, changes under the influence of environment.
Even if the constants which economists wish to determine were less numerous, and the method of experiment more accessible, we should still be faced with the fact that the constants themselves are different at different times. The gravitation constant is the same always. But the economic constants-these elasticities of demand and supply-depending, as they do, upon human consciousness, are liable to vary. The constitution of the atom, as it were, and not merely its position, changes under the influence of environment.
It is not pretended that, at the present stage of its development, economic science is able to provide an organon even remotely approaching to what it imagines for itself as its ideal.
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