John Rae (economist)

John Rae (* 1796 in Aberdeen, † 1872 in New York City ) was - among many other activities - an economist.

Reception

His major work, Statement of Principles on the Subject of some Political Economy took with his theory of capital are important elements of the later theory of marginal utility anticipated, as it was formulated about the work of Eugen Bohm Bawerk of. Although John Stuart Mill frequently quoted from it in his Principles of Political Economy, it fell into oblivion for a long time before it was published in 1902 in a newly abridged and revised version under the title "The Sociological Theory of Capital" and a very positive response been triggered in the neoclassical economists.

Works

• Statement of Some New Principles on the Subject of Political Economy, Exposing the Fallacies of the System of Free Trade, And of someother Doctrines maintained in the " Wealth of Nations ". In 1834.