The First Serious Optimist

"Among economists, A. C. Pigou is the hero of the market failure school and the scourge of laissez-faire. It is left to historians to move beyond such simplifications and bring out the full complexity of the man. Kumekawa has done just that, offering an enlightening and beautifully written portrait of Pigou and providing a touchstone for putting economists' attempts to increase economic welfare in historical context."--Steven G. Medema, author of The Hesitant Hand: Taming Self-Interest in the History of Economic Ideas"The most influential British economist between Alfred Marshall and John Maynard Keynes, A. C. Pigou was the first to describe the field of welfare economics. This deeply researched, wide-ranging, and convincing biography brings Pigou to life as never before, both as a pioneering economist and a public figure, showing the importance of his work during his times and its continuing relevance today."--David Cannadine, Princeton University"The First Serious Optimist is a remarkable portrait of one of the most influential economists of modern times. A. C. Pigou was a theorist of the market and the state, criticized by the right and the left. His theories were the reflection, throughout his life, of his changing understanding of war, poverty, pollution, and economic crisis. Ian Kumekawa's book is a brilliant evocation of the economist in public life."--Emma Rothschild, Harvard University"This is a remarkable book, from which I learned an enormous amount. Kumekawa has uncovered far more details of Pigou's life than I thought were available."--Roger E. Backhouse, Birmingham University and Erasmus University Rotterdam