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John Stuart Mill on economic fluctuations and commercial crises.

Authors :
Zouboulakis, Michel S.
Source :
European Journal of the History of Economic Thought. Dec2024, Vol. 31 Issue 6, p914-924. 11p.
Publication Year :
2024

Abstract

Many early 19th century economic thinkers have provided ideas to explain the causes of commercial crises, as against the Classical belief on the impossibility of a general disequilibrium between demand and supply. J.S. Mill contributed to this debate suggesting an analysis of money and credit as generators of economic fluctuations and crises. Mill apprehended the significance of the function of money as a store of value and explained cyclical fluctuations based on three interrelated causes: the role of money as credit, the propensity of moneylenders to overexpand their credit and the effect of the general tendency of profits to fall. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
09672567
Volume :
31
Issue :
6
Database :
Academic Search Index
Journal :
European Journal of the History of Economic Thought
Publication Type :
Academic Journal
Accession number :
181626333
Full Text :
https://doi.org/10.1080/09672567.2024.2384882