================= HES POSTING ================= With respect to Marshall and externalities, Bharadwaj (1972; Marshall on Pigou's Wealth and Welfare. Economica 39: 32-46) shows that Marshall recorded for posterity (though not for Pigou - Marshall's notes were intended to remain private until after Pigou's death) his reservations about Pigou's proposals to extend the reach of the state so extensively. Robert Leeson [log in to unmask] ============ FOOTER TO HES POSTING ============ For information, send the message "info HES" to [log in to unmask]