# Arthur Cecil Pigou

> British economist (1877-1959)

**Wikidata**: [Q313034](https://www.wikidata.org/wiki/Q313034)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Arthur_Cecil_Pigou)  
**Source**: https://4ort.xyz/entity/arthur-cecil-pigou

## Summary
Arthur Cecil Pigou was a British economist (1877–1959) known for his foundational contributions to economic theory, particularly in the fields of welfare economics and public finance. He is best recognized for developing the concept of the "Pigouvian tax," a tax on activities generating negative externalities, which became a cornerstone of modern environmental and social policy economics.

## Biography
- Born: 1877
- Nationality: United Kingdom
- Education:
  - Bachelor of Arts, King's College, University of Cambridge
  - Master of Arts, King's College, University of Cambridge
- Known for: Pioneering the Pigouvian tax and welfare economics
- Employer(s):
  - King's College, University of Cambridge (Professor)
  - University of Cambridge (Professor)
- Field(s): Economics, welfare economics, public finance

## Contributions
Arthur Cecil Pigou's most significant contribution was the development of the Pigouvian tax, a tax on activities that generate negative externalities, such as pollution or congestion. This concept, formalized in his 1920 work *The Economics of Welfare*, revolutionized how governments address market failures. His work laid the groundwork for modern environmental policy, influencing subsequent economists and policymakers in designing taxes to internalize external costs. Pigou also made substantial contributions to economic theory, particularly in the fields of welfare economics and public finance, shaping the understanding of how governments should intervene in markets to promote social welfare.

## FAQs
**What is Arthur Cecil Pigou known for?**
Arthur Cecil Pigou is known for developing the Pigouvian tax, a tax on activities that generate negative externalities, which became a foundational concept in welfare economics and public finance. His work *The Economics of Welfare* (1920) is a landmark publication in the field.

**Where did Arthur Cecil Pigou work?**
Pigou held academic positions at King's College, University of Cambridge, and the University of Cambridge, where he taught and conducted research in economics.

**What was Arthur Cecil Pigou's educational background?**
Pigou earned his Bachelor of Arts and Master of Arts degrees from King's College, University of Cambridge, establishing his early academic foundation in economics.

**What is the Pigouvian tax?**
The Pigouvian tax is a tax imposed on activities that generate negative externalities, such as pollution or congestion, designed to internalize these costs and promote more efficient market outcomes.

**How did Arthur Cecil Pigou influence economic policy?**
Pigou's work on the Pigouvian tax and welfare economics provided a theoretical framework for governments to address market failures, influencing modern environmental and social policy. His ideas have been adopted in various economic policies worldwide.

## Why They Matter
Arthur Cecil Pigou's work on the Pigouvian tax and welfare economics fundamentally reshaped how economists and policymakers approach market failures and social welfare. His concept of taxing negative externalities became a cornerstone of environmental policy, guiding the design of taxes on pollution and other harmful activities. Pigou's theories have been widely adopted in economic literature and have influenced government policies aimed at promoting social welfare and environmental sustainability. Without his contributions, the understanding of how to internalize external costs and design effective public policies would be significantly less developed. His work continues to be referenced and built upon in modern economic theory and policy discussions.

## Notable For
- Pioneer of the Pigouvian tax, a foundational concept in welfare economics
- Author of *The Economics of Welfare* (1920), a landmark publication in the field
- Professor at King's College and the University of Cambridge, shaping economic education
- Fellow of the British Academy, recognizing his distinguished contributions to economics
- Influential figure in the development of public finance and environmental policy

## Body
### Early Life and Education
Arthur Cecil Pigou was born in 1877. He pursued his higher education at King's College, University of Cambridge, where he earned both his Bachelor of Arts and Master of Arts degrees. His academic training at Cambridge laid the foundation for his subsequent contributions to economic theory.

### Academic Career and Affiliations
Pigou held prominent academic positions at King's College and the University of Cambridge, where he taught and conducted research in economics. His affiliations with these institutions helped shape the field of economics and influenced generations of students and scholars.

### Contributions to Economic Theory
Pigou's most significant contribution was the development of the Pigouvian tax, a tax on activities that generate negative externalities. This concept, formalized in his 1920 work *The Economics of Welfare*, revolutionized how economists and policymakers approached market failures. His work laid the groundwork for modern environmental policy, influencing subsequent economists and policymakers in designing taxes to internalize external costs. Pigou also made substantial contributions to economic theory, particularly in the fields of welfare economics and public finance, shaping the understanding of how governments should intervene in markets to promote social welfare.

### Influence and Legacy
Arthur Cecil Pigou's influence extends beyond his immediate contributions to economics. His work on the Pigouvian tax and welfare economics has been widely adopted in economic literature and has influenced government policies aimed at promoting social welfare and environmental sustainability. His theories continue to be referenced and built upon in modern economic theory and policy discussions. Pigou's legacy is defined by his foundational role in shaping the field of welfare economics and his enduring impact on economic policy.

### Awards and Recognition
Pigou was recognized for his distinguished contributions to economics, including his election as a Fellow of the British Academy. His work has been widely acknowledged and has had a lasting impact on the field of economics.

## References

1. Great Soviet Encyclopedia (1969–1978)
2. BnF authorities
3. The Peerage
4. Integrated Authority File
5. Who's Who
6. International Standard Name Identifier
7. Virtual International Authority File
8. CiNii Research
9. SNAC
10. KNAW Past Members
11. Brockhaus Enzyklopädie
12. Oxford Dictionary of National Biography
13. Freebase Data Dumps. 2013
14. Autoritats UB
15. [Source](http://purl.org/pressemappe20/beaconlist/pe)
16. LIBRIS. 2014
17. National Library of Israel Names and Subjects Authority File
18. Catalogo of the National Library of India