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KEYNES, MILL, AND SAY’S LAW: A COMMENT ON ROY GRIEVE’S MISTAKEN CRITICISMS OF MILL
Journal of the History of Economic Thought ( IF 0.583 ) Pub Date : 2018-05-24 , DOI: 10.1017/s1053837217000281
James C. W. Ahiakpor

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, John Maynard Keynes ([1936] 1974) faulted Say’s Law as irrelevant to the real world. Roy Grieve (2016) ignores previous clarifications of Keynes’s misrepresentations and misunderstandings of John Stuart Mill’s restatements of the law. He employs similar misrepresentations and misunderstandings of Mill’s explanations as Keynes did. 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.

中文翻译:

凯恩斯、米尔和萨伊定律:对罗伊·格里夫对米尔的错误批评的评论

约翰·梅纳德·凯恩斯 (John Maynard Keynes) ([1936] 1974) 使用了储蓄、资本、投资和货币等经典概念的不同含义,并错误地将劳动力充分就业和确定性世界的假设归因于经典分析,认为萨伊定律与现实世界。罗伊·格里夫 (Roy Grieve)(2016 年)忽略了先前对凯恩斯对约翰·斯图尔特·米尔重述法律的失实陈述和误解的澄清。他对密尔的解释采用了与凯恩斯类似的错误陈述和误解。他的穆勒分析模型无法解释相对价格、货币价值和利率的变化如何协调货币经济中的生产、消费和储蓄决策。
更新日期:2018-05-24
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