Acknowledgements -- Abbreviations -- Pigou in the foreground -- "The most brilliant young man i know" -- Developing a framework -- The theory of policy analysis -- The cost controversies -- The Robbins critique -- Confrontations with Keynes -- Legacy -- Notes -- References -- Index

Modern treatment of long-run (U-shaped) cost curves developed from reactions to Sraffa's criticisms of Marshall. He argued that internal (dis)economies were incompatible with partial-equilibrium analysis under perfect competition. Pigou concurred, and drew L-shaped cost curves; Viner realized...