Mill, John Stuart, as Economic Theorist | SpringerLink
In his approach to growth, Mill, following Malthus, supplemented the Ricardian analysis involving a simultaneous decline in both the real wage and the profit rate until their respective minima in circumstances of land scarcity. ... This model (cf. Hollander 1984, 1985a, pp. 444–51) provides the theoretical backdrop to Mill's reconsideration ...