ABSTRACT OF PAPER
Title: J. S. Mill’s Reconsidering D. Ricardo: Methodological Approach to Theoretical Controversies
Author: Akdere Cinla
Disputes over the Ricardian character of J. S. Mill’s economic theory and method involve many controversies in economics about the nature of economic laws: inductive/deductive, abstract/concrete, causal/statistical, interdisciplinary/pure, individualist/holist, mechanical/chemical, experimental/hypothetic or conventional etc. For example, Maricic (1992) J. K. Whitaker (1975), Hands (2001) and Blaug (1986; 1994) attribute the hypothetico-deductivist way of reasoning both to Ricardo and Mill, an argument which is controversy especially among the interpretations of Mill. Although Ricardo’s analysis has dominated economic discussions for next fifty years after his death in 1823, it has become the target of numerous attacks, especially from 1830s. Mill reconsiders Ricardo’s theory on concentrating on its suffering from a theoretical deficiency. The subject of this paper is to discuss first Mill’s identifying methodological inadequacies that stuck the theory of Ricardo; second, the strategy that he develops to cure them; third, his effort of make a better economic theory.
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