I shall discuss, first, the Cambridge tradition on welfare and future generations focusing on Pigou and Marshall, then try to draw a contrast between Marshall and Pigou. While, noting the 'defective telescopic faculty', Pigou stressed the role of the state, Marshall put more emphasis on individual, family, and intermediate organizations. From section 3 onwards, I try to make clear how Marshall thought about evolutionary economic progress, trusting education, family affection, human capital investment, and human improvement. In the course of economic progress, Marshall thought that man should have acquired 'a greater telescopic faculty'. He greatly emphasized the cumulative effects of time on wages, firmly believing in the economy of high wages.
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