Principles of Political Economy / Edition 1

Principles of Political Economy / Edition 1

by John Stuart Mill
     
 

The standard economics textbook for more than a generation, John Stuart Mill’s Principles of Political Economy (1848) was really as much a synthesis of his predecessors’ ideas as it was an original economic treatise. Heavily influenced by the work of David Ricardo, and also taking ideas from Adam Smith and Thomas Malthus, Mill systematically

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Overview

The standard economics textbook for more than a generation, John Stuart Mill’s Principles of Political Economy (1848) was really as much a synthesis of his predecessors’ ideas as it was an original economic treatise. Heavily influenced by the work of David Ricardo, and also taking ideas from Adam Smith and Thomas Malthus, Mill systematically demonstrated how important economic concepts could be applied to real-world situations. In his emphasis on realism, Mill thus took economics out of the realm of the abstract and placed it squarely within the context of society.
For instance, he made a convincing case that wages, rent, and profit are not necessarily the expression of immutable laws that are independent of society. Rather, they are in actuality the results of social institutions and as such can be changed if the members of a society move to break traditional institutional habits. Reflecting his utilitarian social philosophy, Mill suggested that social improvements are always possible. He thus proposed modifying a purely laissez faire system, advocating trade protectionism and regulation of employees’ work hours for the benefit of domestic industries and workers’ well-being. In such features he displayed a leaning toward socialism.
In summing up his objective for this massive work, Mill said later in his Autobiography (1873) that he wished "to unite the greatest individual liberty of action, with a common ownership in the raw material of the globe, and an equal participation of all in the benefits of combined labour." For anyone with an interest in the history of economics or the history of ideas, this landmark work of classical economics makes for stimulating and in many respects still very relevant reading.

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Product Details

ISBN-13:
9781591021513
Publisher:
Prometheus Books
Publication date:
10/25/2004
Series:
Great Minds Series
Edition description:
New Edition
Pages:
710
Sales rank:
894,340
Product dimensions:
5.41(w) x 8.32(h) x 1.60(d)

Table of Contents

Special Introduction
Mill's Preface
Preliminary Remarks
Bk. IProduction
Ch. IOf the Requisites of Production
Ch. IIOf Labor as an Agent of Production
Ch. IIIOf Unproductive Labor
Ch. IVOf Capital
Ch. VFundamental Propositions respecting Capital
Ch. VIOn Circulating and Fixed Capital
Ch. VIIOn what depends the degree of Productiveness of Productive Agents
Ch. VIIIOf Co-operation, or the Combination of Labor
Ch. IXOf Production on a Large, and Production on a Small Scale
Ch. XOf the Law of the Increase of Labor
Ch. XIOf the Law of the Increase of Capital
Ch. XIIOf the Law of the Increase of Production from Land
Ch. XIIIConsequence of the foregoing Laws
Bk. IIDistribution
Ch. IOf Property
Ch. IIThe same subject continued
Ch. IIIOf the Classes among whom the Produce is distributed
Ch. IVOf Competition and Custom
Ch. VOf Slavery
Ch. VIOf Peasant Proprietors
Ch. VIIContinuation of the same subject
Ch. VIIIOf Metayers
Ch. IXOf Cottiers
Ch. XMeans of abolishing Cottier Tenancy
Ch. XIOf Wages
Ch. XIIOf Popular Remedies for Low Wages
Ch. XIIIThe Remedies for Low Wages further considered
Ch. XIVOf the Differences of Wages in different Employments
Ch. XVOf Profits
Ch. XVIOf Rent
Bk. IIIExchange
Ch. IOf Value
Ch. IIOf Demand and Supply, in their relation to Value
Ch. IIIOf Cost of Production, in its relation to Value
Ch. IVUltimate Analysis of Cost of Production
Ch. VOf Rent, in its Relation to Value
Ch. VISummary of the Theory of Value
Ch. VIIOf Money
Ch. VIIIOf the Value of Money, as dependent on Demand and Supply
Ch. IXOf the Value of Money, as dependent on Cost of Production
Ch. XOf a Double Standard, and Subsidiary Coins
Ch. XIOf Credit, as a Substitute for Money
Ch. XIIInfluence of Credit on Prices
Ch. XIIIOf an Inconvertible Paper Currency
Ch. XIVOf Excess of Supply
Ch. XVOf a Measure of Value
Ch. XVIOf some Peculiar Cases of Value
Ch. XVIIOf International Trade
Ch. XVIIIOf International Values
Ch. XIXOf money, considered as an Imported Commodity
Ch. XXOf the Foreign Exchanges
Ch. XXIOf the Distribution of the Precious Metals through the Commercial World
Ch. XXIIInfluence of the Currency on the Exchanges and on Foreign Trade
Ch. XXIIIOf the Rate of Interest
Ch. XXIVOf the Regulation of a Convertible Currency
Ch. XXVOf the Competition of different Countries in the Same Market
Ch. XXVIOf Distribution, as affected by Exchange
Bk. IVInfluence of the Progress of Society on Production and Distribution
Ch. IGeneral Characteristics of a Progressive State of Wealth
Ch. IIInfluence of the Progress of Industry and Population on Values and Prices
Ch. IIIInfluence of the Progress of Industry and Population on Rents, Profits, and Wages
Ch. IVOf the Tendency of Profits to a Minimum
Ch. VConsequences of the Tendency of Profits to a Minimum
Ch. VIOf the Stationary State
Ch. VIIOn the Probable Futurity of the Laboring Classes
Bk. VOn the Influence of Government
Ch. IOf the Functions of Government in general
Ch. IIOn the General Principles of Taxation
Ch. IIIOf Direct Taxes
Ch. IVOf Taxes on Commodities
Ch. VOf some other Taxes
Ch. VIComparison between Direct and Indirect Taxation
Ch. VIIOf a National Debt
Ch. VIIIOf the Ordinary Functions of Government, considered as to their Economical Effects
Ch. IXThe same subject continued
Ch. XOf Interferences of Government grounded on Erroneous Theories
Ch. XIOf the Grounds and Limits of the Laisser-faire or Non-interference Principle

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