James Mill (1773â€“1836) is perhaps best known as the father and educator of John Stuart Mill. He deserves to be remembered for much more, however. Not only was he an influential popularizer of the ideas of his friend, David Ricardo, but also, as appears from the excerpt here presented, an important economist in his own right. What has come down to us as Say’s Law may, perhaps with equal propriety, be called Mill’s Law. FULL ARTICLE plus Mill’s early version of Say’s Law.
Source link: http://archive.mises.org/6128/overproduction-and-underconsumption-fallacies/