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Would you like to tell us about a lower price? Principles of Political Economy by John Stuart Mill was one of the most important economic or political economy textbook of the mid nineteenth century. It was revised until its seventh edition in , shortly before Mill's death in , and republished in numerous other editions. Beside discussing descriptive issues such as which nations tended to benefit more in a system of trade based on comparative advantage Mill's answer: Mill's sympathetic attitude in this work and in other essays toward contemporary socialism, particularly Fourierism, earned him esteem from the working class as one of their intellectual champions.
Read more Read less. Kindle Cloud Reader Read instantly in your browser. Customers who bought this item also bought. Page 1 of 1 Start over Page 1 of 1. An Essay on the Principle of Population. The Wealth of Nations.
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Editorial Reviews About the Author John Stuart Mill was an English philosopher, politician and economist most famous for his contributions to the theory of utilitarianism. The author of numerous influential political treatises, Mill s writings on liberty, freedom of speech, democracy and economics have helped to form the foundation of modern liberal thought. His work, On Liberty, is particularly noteworthy for helping to address the nature and limits of the power of the state over the individual. Mills has become one of the most influential figures in nineteenth-century philosophy, and his writings are still widely studied and analyzed by scholars.
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John Stuart Mill is if not the greatest philosopher of all time, one of the top 5 in history. Given his importance and almost unrivaled influence on modern political economic thought, anyone who thinks they can abridge his works appropriately is wrong. The entire first section of the book is completely missing, which is his notes on production and is as important as the Wealth of Nations in the development of economics.
For any economist, this book is a vital part of their library, and is the most important work written in the 19th century for my field. I wish Amazon would put the word Abridged at the beginning of the title in their description of such works, so that you don't have to read through a paragraph of text to find out the most important and one of the most eloquently written masterpiece in your field is completely missing when you would expect it is there.
The only case when abridging this work could ever be appropriate would be as part of a textbook anthology. Keep looking for the real thing.
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Mill is the great synthesis of nineteenth-century economics. The Principles are tedious at times, but provide a generally illuminating account of the ways nineteenth-century citizens reconciled themselves to an increasingly quantified world. Mill engages usefully with most major economic theories of his time, including inheritance rights, speculation, taxation, and the well-being of the working class. If you're using this edition for a historical or otherwise scholarly project, please be aware that it's based on the , rather than , edition.
Some of Mill's revisions are substantial. John Stuart Mill was almost as unlucky as Karl Marx. Mill was the right man at the right time when it came to summing up Classical Economics.
Principles of Political Economy
He was both brilliant and well situated. As the son of James Mill he knew David Ricardo well. Mill was also a gifted student. He spoke multiple languages as a small child. Mill famously claimed that "Happily, there is nothing in the laws of Value which remains for the present or any future writer to clear up; the theory of the subject is complete: Another notable-quotable passage concerns socialism: There are many other notable-quotable sections of Mill's book, though this edition omits many of them.
Mill's book is about the earliest work on comparative economic systems that I know of. The inclusion of Mills' chapters on socialism add much to this edition. Given that he was writing in the shadow of Malthus, he does take a rather pessimistic tone at times. However, Malthus argued that higher corn prices were in the interests of the workers since the workers' purchasing power was closely tied to the price of corn.
Malthus took the opposite stand and argued in favor of the Corn Law.
Principles of Political Economy - Wikipedia
Malthus and Ricardo also disagreed on economic method. Ricardo treated costs as the determinant of value where a single variable, labor, became the only significant one. Malthus insisted on incorporating Ricardo's cost analysis into a supply-and-demand framework. In addition to the disagreements, Ricardo and Malthus do share the same view about population. Ricardo also said the same thing about the population as Malthus that population kept expanding, eventually there was not enough food to go around, and economic growth would stop.
Together they led to economics being called "the dismal science. Henry George pioneered property tax concept through his book Progress and Poverty and influenced the profits of millions of American people. This is a must-read book for people who are also interested in the deepest thoughts and views about the core economic subjects such as value, profit, wages, population, and prices by David Ricardo and Thomas Malthus, two of the greatest economic thinkers on the planet.
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