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Saturday, May 15, 2021

Testing the Mill Hypothesis

My intermediate macro book begins with a quotation from John Stuart Mill, which ends with this conclusion:

"My advice to you is to study the great writers on Political Economy, and hold firmly by whatever in them you find true; and depend upon it that if you are not selfish or hardhearted already, Political Economy will not make you so."

A recent study suggests that Mill was right.