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‘Dynamic Equilibrium’ with Constant Wages: J. S. Mill's Malthusian Analysis of the Secular Wage Path
Author(s) -
Hollander Samuel
Publication year - 1984
Publication title -
kyklos
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.766
H-Index - 58
eISSN - 1467-6435
pISSN - 0023-5962
DOI - 10.1111/j.1467-6435.1984.tb00751.x
Subject(s) - economics , subsistence agriculture , mill , constant (computer programming) , wage , path (computing) , population growth , population , keynesian economics , econometrics , labour economics , ecology , chemistry , biology , demography , agriculture , sociology , computer science , programming language
SUMMARY According to Malthusian growth theory the wage rate may be maintained constant on the path to the stationary state, at a level above ‘subsistence’ by appropriate reductions in the population growth rate. In this paper we document J. S. MILL'S version of the Malthusian model and various applications thereof.