This man stated that contractions in money income are almost always caused by a decrease in velocity in his The Veil of Money, and one of his ideas was criticized by Public choice theorists because it relied on the intervention of a benevolent despot. Michael Kalecki criticized one concept named for this man, which states that during times of deflation, employment and economic output increase due to a rise in the real balance of wealth. His most famous idea was published in Wealth and Welfare, and was criticized in "The Problem of Social Cost" 
This man stated that contractions in money income are almost always caused by a decrease in velocity in his The Veil of Money, and one of his ideas was criticized by Public choice theorists because it relied on the intervention of a benevolent despot. Michael Kalecki criticized one concept named for this man, which states that during times of deflation, employment and economic output increase due to a rise in the real balance of wealth. His most famous idea was published in Wealth and Welfare, and was criticized in "The Problem of Social Cost" by Coase. FTP, name this welfare economist, whose namesake taxes are used to stop market failure by correcting for negative externalities.
This man stated that contractions in money income are almost always caused by a decrease in velocity in his The Veil of Money, and one of his ideas was criticized by Public choice theorists because it relied on the intervention of a benevolent despot.
Arthur Pigou