The Economics of Welfare
E82228
The Economics of Welfare is a foundational 1920 economics treatise by Arthur Cecil Pigou that systematically develops welfare economics and the concept of externalities to analyze the role of government in correcting market failures.
All labels observed (2)
| Label | Occurrences |
|---|---|
| The Economics of Welfare canonical | 6 |
| Pigou: The Economics of Welfare | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T665564 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: The Economics of Welfare Context triple: [Arthur Cecil Pigou, notableWork, The Economics of Welfare]
-
A.
An Inquiry into Well-Being and Destitution
An Inquiry into Well-Being and Destitution is an influential economic and philosophical treatise that rigorously examines the concepts of welfare, poverty, and inequality within a comprehensive theoretical framework.
-
B.
On the Principles of Political Economy and Taxation
On the Principles of Political Economy and Taxation is an 1817 treatise by David Ricardo that systematically develops classical economic theories such as comparative advantage, rent, wages, and profits.
-
C.
Inequality Reexamined
Inequality Reexamined is a philosophical and economic work by Amartya Sen that critically analyzes traditional views of inequality and justice through his capabilities approach.
-
D.
Capitalism and Freedom
Capitalism and Freedom is a landmark 1962 book by economist Milton Friedman that argues for the primacy of free-market capitalism as a foundation for individual liberty and limited government.
-
E.
The System of Economic Contradictions, or The Philosophy of Poverty
The System of Economic Contradictions, or The Philosophy of Poverty is an 1846 work by Pierre-Joseph Proudhon that offers a critical, dialectical analysis of capitalism and political economy from a socialist and anarchist perspective.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: The Economics of Welfare Target entity description: The Economics of Welfare is a foundational 1920 economics treatise by Arthur Cecil Pigou that systematically develops welfare economics and the concept of externalities to analyze the role of government in correcting market failures.
-
A.
An Inquiry into Well-Being and Destitution
An Inquiry into Well-Being and Destitution is an influential economic and philosophical treatise that rigorously examines the concepts of welfare, poverty, and inequality within a comprehensive theoretical framework.
-
B.
On the Principles of Political Economy and Taxation
On the Principles of Political Economy and Taxation is an 1817 treatise by David Ricardo that systematically develops classical economic theories such as comparative advantage, rent, wages, and profits.
-
C.
Inequality Reexamined
Inequality Reexamined is a philosophical and economic work by Amartya Sen that critically analyzes traditional views of inequality and justice through his capabilities approach.
-
D.
Capitalism and Freedom
Capitalism and Freedom is a landmark 1962 book by economist Milton Friedman that argues for the primacy of free-market capitalism as a foundation for individual liberty and limited government.
-
E.
The System of Economic Contradictions, or The Philosophy of Poverty
The System of Economic Contradictions, or The Philosophy of Poverty is an 1846 work by Pierre-Joseph Proudhon that offers a critical, dialectical analysis of capitalism and political economy from a socialist and anarchist perspective.
- F. None of above. chosen
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
book
ⓘ
economics treatise ⓘ |
| analyzes |
divergence between marginal private benefit and marginal social benefit
ⓘ
divergence between marginal private cost and marginal social cost ⓘ |
| author | Arthur Cecil Pigou ⓘ |
| contributedTo |
analysis of market failure
ⓘ
development of externality theory ⓘ formalization of welfare economics ⓘ theory of corrective taxation ⓘ |
| countryOfOrigin | United Kingdom ⓘ |
| examines |
conditions for maximizing the national dividend
ⓘ
impact of increasing returns on welfare ⓘ impact of monopoly on welfare ⓘ labor market imperfections ⓘ poverty and social policy ⓘ relationship between welfare and national income ⓘ unemployment policy ⓘ |
| fieldOfStudy |
economics
ⓘ
public finance ⓘ welfare economics ⓘ |
| firstEditionYear | 1920 ⓘ |
| focusesOn |
Pigouvian taxes
ⓘ
conditions for economic efficiency ⓘ distribution of income and welfare ⓘ divergence between private and social net product ⓘ measurement of social welfare ⓘ national dividend ⓘ role of taxes and subsidies ⓘ unemployment and welfare ⓘ |
| hasAlternativeTitle |
Pigou: The Economics of Welfare
ⓘ
linked to:
The Economics of Welfare
|
| hasEdition |
fourth edition
ⓘ
second edition ⓘ third edition ⓘ |
| hasInfluenced |
cost–benefit analysis
ⓘ
environmental economics ⓘ modern public economics ⓘ policy design for externalities ⓘ |
| isConsidered |
classic of economic theory
ⓘ
foundational work in welfare economics ⓘ |
| language | English ⓘ |
| mainSubject |
economic welfare
ⓘ
externalities ⓘ government intervention in the economy ⓘ market failure ⓘ public economics ⓘ welfare economics ⓘ |
| proposesConcept |
Pigouvian tax
ⓘ
linked to:
Pigouvian taxes
|
| publicationYear | 1920 ⓘ |
| publisher |
Macmillan
ⓘ
linked to:
Macmillan Publishers
|
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: The Economics of Welfare Description of subject: The Economics of Welfare is a foundational 1920 economics treatise by Arthur Cecil Pigou that systematically develops welfare economics and the concept of externalities to analyze the role of government in correcting market failures.
Referenced by (7)
Full triples — surface form annotated when it differs from this entity's canonical label.
linked to: The Economics of Welfare