Template-Type: ReDIF-Paper 1.0
Author-Name: Roy H Grieve
Author-Name-First: Roy H
Author-Name-Last: Grieve
Author-Email: roygrieve@btinternet.com
Author-Workplace-Name: Department of Economics, University of Strathclyde
Title: Debunking Mill's "Fourth fundamental proposition on capital"
Abstract: J S Mill’s enigmatic “Fourth Proposition on Capital” has been brought to our notice by Steven Kates (2015). Kates takes a positive view of the proposition. Our focus is not, however, on Kates, but on the aforesaid proposition. The purpose of this paper is to demonstrate, via close examination of Mill’s explanatory examples, just how unsatisfactory are its foundations. We conclude that the doubters are justified: Mill’s Fourth Proposition is, demonstrably, a muddle.

     
Length: 17 pages
Creation-Date: 2015-05
Revision-Date: 
Publication-Status: Published
File-URL: http://www.strath.ac.uk/media/1newwebsite/departmentsubject/economics/research/researchdiscussionpapers/15-02.pdf
File-Format: Application/pdf
Number: 1502
Classification-JEL: B12
Keywords: J S Mill's "Fourth Proposition on Capital"; derived demand; Say's Law
Handle: RePEc:str:wpaper:1502