Journal of the History of Economic Thought Preprints - Keynes, Mill, and Say’s Law: A Comment on Roy Grieve’s Mistaken Criticisms of Mill
James C.W. Ahiakpor
No ys8dt, SocArXiv from Center for Open Science
Employing different meanings of classical concepts of saving, capital, investment, and money, and incorrectly attributing the assumption of full employment of labor and a world of certainty to classical analysis, Keynes (1936) faulted Say’s Law as irrelevant to the real world. Roy Grieve (2016) ignores previous clarifications of Keynes’s misrepresentations and misunderstandings of Mill’s restatements of the law. He employs similar misrepresentations and misunderstandings of Mill’s explanations as Keynes. His model of Mill’s analysis is incapable of explaining how variations in relative prices, the value of money, and interest rates coordinate production, consumption and savings decisions in a monetary economy.
New Economics Papers: this item is included in nep-his, nep-hpe and nep-pke
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:osf:socarx:ys8dt
Access Statistics for this paper
More papers in SocArXiv from Center for Open Science
Bibliographic data for series maintained by OSF ().