J. S. Mill’s Fourth Proposition in the Austrian Theory of Economic Cycles

  • Ubiratan Jorge Iorio
Keywords: John Stuart Mill, Macroeconomics, Economic Theory, Austrian Theory of Economic Cycles

Abstract

In the Fourth Proposition of J. S. Mill, formulated in 1848, the author suggests that the demand of consumer goods and the demand of investments can move in opposite directions, in contrast with modern macroeconomic models, in which the levels of consumption expenditures and of investment move in the same direction. In this article, my purpose is to show the role played by J. S. Mill’s Fourth Proposition in the Austrian Theory of Economic Cycles, in order to compare the Austrian theoretic stance with contemporary macroeconomic streams.

Downloads

Download data is not yet available.

Metrics

Metrics Loading ...
Published
2015-06-01
How to Cite
1.
Iorio UJ. J. S. Mill’s Fourth Proposition in the Austrian Theory of Economic Cycles. MisesJournal [Internet]. 2015Jun.1 [cited 2020Aug.11];3(1):87-110. Available from: https://misesjournal.org.br/misesjournal/article/view/719
Section
Economics, Methodology and Praxiology