Did Keynes in the General Theory significantly misrepresent J S Mill?
It has been alleged that J M Keynes, quoting in the General Theory a passage from J S Millâ€™s Principles, misunderstood the passage in question and was therefore wrong to cite Mill as an upholder of the â€˜classicalâ€™ proposition that â€˜supply creates its own demandâ€™. We believe that, although Keynes was admittedly in error with respect to, so-to-say, the â€˜letterâ€™ of Millâ€™s exposition, he did not mislead readers as to the â€˜substanceâ€™ of Millâ€™s conception. The purpose of this paper is to demonstrate that J S Mill did indeed stand for a â€˜classicalâ€™ position, vulnerable to Keynesâ€™s critique as developed in the General Theory. [This is a revised version of an earlier working paper: â€˜Keynes, Mill and Sayâ€™s Lawâ€™, Strathclyde Papers in Economics, 2000/11]
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