Allgemeine Theorie der Beschäftigung, des Zinses und des Geldes
Keynes, in turn, was very critical of Pigou, mentioning Pigou at least 17 times in "The General Theory of Employment, Interest and Money", usually disparagingly. Keynes states that "[Pigou] is unable to devise any satisfactory formula to evaluate new equipment against old when, owing to changes in technique, the two are not identical. I believe that the concept at which Professor Pigou is aiming is the right and appropriate concept for economic analysis. But, until a satisfactory