Mitigating Policies
PIGOU, Arthur Cecil.
Industrial fluctuations. New York, Macmillan, 1927.
8vo, pp. xxii, 397, [1 blank], [2]; charts and graphs, some folding; a very good copy in publisher’s red straight-grain cloth, blindstamped borders, spine gilt, slightly stained and bumped; rear inner hinge cracked but holding firm; some underlining in pencil and notation to margins.
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Industrial fluctuations.
First edition. This work was ‘hived off’ from the larger and monumental Wealth and welfare (1912), the work that had been in hand when Pigou succeeded Alfred Marshall as Professor of Political Economy at Cambridge in 1908: ‘to the end of his life he remained steeped in the Marshallian system. What bits he added were to the superstructure. They did not affect the foundations’ (New Palgrave). Here Pigou examines the causes of fluctuations in the market and the remedies available, looking in particular at banking and wage-related policies.
Not in Sraffa.