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‘Dynamic Equilibrium’ with Constant Wages: J. S. Mill's Malthusian Analysis of the Secular Wage Path

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  • Samuel Hollander

Abstract

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. Nach der Wachstumstheorie von MALTHUS kann die Lohnrate bei angemessener Reduktion der Wachstumsrate der Bevölkerung über dem ≪Existenzminimum≫ gehalten werden. In dem vorliegenden Artikel wird J. S. MILLS Version des Malthusianischen Modelles dargestellt und verschiedene Anwendungen erlätert. Maintenir le taux de salaire invariable au‐dessus de la ≪subsistence≫ exige, d'après la théorie malthusienne de la croissance, l'exercise du contro̧le prudentiel de la population. Nous démontrons ici la version du modèle malthusien presenté par JOHN STUART MILL et certaines applications qu'il a faites.

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  • Samuel Hollander, 1984. "‘Dynamic Equilibrium’ with Constant Wages: J. S. Mill's Malthusian Analysis of the Secular Wage Path," Kyklos, Wiley Blackwell, vol. 37(2), pages 247-265, May.
    • Handle: RePEc:bla:kyklos:v:37:y:1984:i:2:p:247-265
    DOI: 10.1111/j.1467-6435.1984.tb00751.x
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