The Collected Works of Robert Giffen

Sir Robert Giffen (1837-1910) was a prolific writer on economic, financial and statistical subjects. His main contributions were his accurate measurement and prediction of such indicators as wage rates, economic growth and national product. These works were originally published between 1880 and 1904. Primarily a statistician, Giffen's keen eye for the pitfalls of prediction encouraged the study of statistics in Britain. He contributed greatly to the debate on Ireland, believing the country to be overtaxed in comparison with Britain, and advocating the reduction of the representation of Ireland in the imperial parliament. He promoted the idea of boring a tunnel under the Irish Sea to promote closer uniion between Ireland and Britain. Although he tried to avoid political partisanship, he occasionally criticized the policy of ministers of the crown, having delivered an indictment of the finances of Gladstone's home rule proposals. A strong individualist, Giffen viewed any infraction of the rule of "laissez-faire" with suspicion, but did concede that a slight preference to colonial imports might be justified politically.
He recommended that investors inform and judge for themselves the course of their business and not be swayed by bankers, brokers or friends. He also favoured the concept of "free banking", whereby a cheque may be drawn upon by any person, whether a banker or not. He remains one of the pioneers of applied economics in its modern sense.