Principles of Economics. Illustrated

by Alfred Marshall

2021 · Strelbytskyy Multimedia Publishing

Principles of Economics is magnum opus of Alfred Marshall. It was the standard text for generations of economics students. Marshal’s plan for the work gradually extended to a two-volume compilation on the whole of economic thought. Marshall's influence on modifying economic thought is difficult to deny. He popularized the use of supply and demand functions as tools of price determination; modern economists owe the linkage between price shifts and curve shifts to Marshall.

Principles of Economics

by Alfred Marshall

In this seminal work, Alfred Marshall lays the groundwork for modern economic thought, exploring the complex interplay of supply and demand, marginal utility, and the factors that shape market behavior. With clear, concise language and insightful examples, Marshall guides readers through the fundamental concepts and theories that underpin the study of economics. Principles of Economics remains a timeless classic, offering invaluable insights into the forces that drive economic decision-making and shape the world we live in.

The Economics of Welfare

by Alfred C. Pigou

2006 · Cosimo, Inc.

Welfare economics is a branch of economics using microeconomic techniques to simultaneously determine the efficiency of the overall economy and the income distribution consequences associated with it. As a British economist best known for his work in many fields and particularly in welfare economics, Pigou attended the prestigious Harrow School and was a graduate of King's College, Cambridge, where he studied under Alfred Marshall, famously known as the creator of "The Marshall Plan." Here in The Economics of Welfare, Pigou asserts that individuals are the best judges of their own welfare, that people will prefer greater welfare to less welfare, and that welfare can be adequately measured either in monetary terms or as a relative preference. Scholars and students of both economics and welfare policy will find Pigou's work a significant contribution to current debates on welfare policy directions. Included in Volume II: "The National Dividend and Labour" and "The Distribution of the National Dividend." ALSO AVAILABLE AT COSIMO CLASSICS: The Economics of Welfare: Volume I ARTHUR CECIL PIGOU (1877-1959) was a Professor of Political Economy at Cambridge University from 1908 to 1943. He is best known for the development of "The Pigou Effect," an economics term, which refers to the stimulation of output & employment caused by increasing consumption. Pigou served on a number of royal commissions, including the 1919 committee on income tax.