Classical Roots of the Criticisms of John Stuart Mill’s Wage-Fund Theory

Antonella Stirati

Chapter Chapter 8 in New Perspectives on Political Economy and Its History, 2020, pp 149-169 from Palgrave Macmillan

Abstract: Abstract The purpose of this contribution is to discuss the analytical contents of the criticisms levelled at J.S. Mill’s theory of the wage fund and accepted by him in his famous ‘recantation’ of 1869. One reason for the interest in the analytical issues that emerged in the criticisms of the wage-fund theory lies in the fact that they take up and revive many aspects of Smith’s approach to wage determination. In so doing, they show its inconsistency with the wage-fund theory presented by Mill; that is, they show the existence of a conflict between Smith’s views, representative of the theory of wages proper to the classical political economy (from Petty to Ricardo) and the subsequently established theory of the wage fund.

Keywords: Wage-fund theory; Classical wage theory; Longe; Thornton; J.S. Mill’s recantation (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:pshchp:978-3-030-42925-6_8

Ordering information: This item can be ordered from
http://www.palgrave.com/9783030429256

DOI: 10.1007/978-3-030-42925-6_8

Access Statistics for this chapter

More chapters in Palgrave Studies in the History of Economic Thought from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().