This paper presents such a mathematical formulation of Mill's conception of economic progress. Departing from Hollander’s model, we base our argument on a distinction between real wages and what Mill calls the “habitual standard of comfortable living”. The latter involves a series of moral and intellectual faculties, and not a mere flow of consumption commodities
Does economic growth ultimately lead to a nobler life? A mathematical formulation of Mill's stationary state
OPOCHER, ARRIGO
2010
Abstract
This paper presents such a mathematical formulation of Mill's conception of economic progress. Departing from Hollander’s model, we base our argument on a distinction between real wages and what Mill calls the “habitual standard of comfortable living”. The latter involves a series of moral and intellectual faculties, and not a mere flow of consumption commodities
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