Debunking Mill's "Fourth Fundamental Proposition on Capital"

Roy H Grieve

Research output: Working paperDiscussion paper

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.
LanguageEnglish
Place of PublicationGlasgow
PublisherUniversity of Strathclyde
Pages1-17
Number of pages17
Volume15
Publication statusPublished - 2015

Fingerprint

John Stuart Mill

Keywords

  • fourth proposition on capital
  • derived demand
  • Say's law
  • J.S.Mill

Cite this

Grieve, R. H. (2015). Debunking Mill's "Fourth Fundamental Proposition on Capital". (02 ed.) (pp. 1-17). Glasgow: University of Strathclyde.
Grieve, Roy H. / Debunking Mill's "Fourth Fundamental Proposition on Capital". 02. ed. Glasgow : University of Strathclyde, 2015. pp. 1-17
@techreport{b3f4e43b84e2416a9b6b3cb91a8a257c,
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.",
keywords = "fourth proposition on capital, derived demand, Say's law, J.S.Mill",
author = "Grieve, {Roy H}",
note = "Published as a paper within the Discussion Papers in Economics, No. 15-02 (2015)",
year = "2015",
language = "English",
volume = "15",
pages = "1--17",
publisher = "University of Strathclyde",
edition = "02",
type = "WorkingPaper",
institution = "University of Strathclyde",

}

Grieve, RH 2015 'Debunking Mill's "Fourth Fundamental Proposition on Capital"' 02 edn, University of Strathclyde, Glasgow, pp. 1-17.

Debunking Mill's "Fourth Fundamental Proposition on Capital". / Grieve, Roy H.

02. ed. Glasgow : University of Strathclyde, 2015. p. 1-17.

Research output: Working paperDiscussion paper

TY - UNPB

T1 - Debunking Mill's "Fourth Fundamental Proposition on Capital"

AU - Grieve, Roy H

N1 - Published as a paper within the Discussion Papers in Economics, No. 15-02 (2015)

PY - 2015

Y1 - 2015

N2 - 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.

AB - 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.

KW - fourth proposition on capital

KW - derived demand

KW - Say's law

KW - J.S.Mill

M3 - Discussion paper

VL - 15

SP - 1

EP - 17

BT - Debunking Mill's "Fourth Fundamental Proposition on Capital"

PB - University of Strathclyde

CY - Glasgow

ER -

Grieve RH. Debunking Mill's "Fourth Fundamental Proposition on Capital". 02 ed. Glasgow: University of Strathclyde. 2015, p. 1-17.