Caldari, Katia; Masini, Fabio - In: The European Journal of the History of Economic Thought 18 (2011) 5, pp. 715-732
<title>Abstract</title> In <italic>The Economics of Welfare</italic>, Pigou develops the idea of what will be widely known as ‘Pigouvian tax’. Together with the concept of externality, they constituted two of the most important founding elements of modern welfare economics. Many have suggested that, on the way he treated...