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Originally published in 1920, The Economics of Welfare provided a solution to the much discussed problem of externalities associated with market inefficiencies such as the problem of pollution. The concept of externalities remains central to modern day welfare economics and particularly environmental economics.
His development as a formidable analyst seems to have been rapid and the collection includes many thoughtful and extended treatments of important economic questions of the day, but the collection also includes some short 'answers' to criticisms, reviews of major books and his famous sharp 1936 review of Keynes' General Theory of Employment.
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