Author
John Stuart Mill
Published date
2024
Edition
1st Edition
Principles of Political Economy by John Stuart Mill is a scientific publication written in the mid-19th century. This work serves as a comprehensive textbook on the foundations of economic theory, exploring themes such as production, distribution, and the relationship between labor and capital. The focus of the book is on understanding the principles that govern economic activity and the factors that influence wealth creation within societies. The opening of this treatise outlines the preface and introductory remarks, setting the stage for the study of political economy. Mill’s approach emphasizes the historical evolution of economic thought and acknowledges previous economic theories while establishing his perspective. In the initial chapters, he introduces key concepts, such as the requisites of production—labor, natural resources, and capital—highlighting their interdependence and significance in fostering economic activity. Mill also begins to discuss the distinctions between different types of labor and the concept of capital, laying the groundwork for more in-depth analysis in the subsequent chapters.
About John Stuart Mill
John Stuart Mill (1806–1873) was a British philosopher, political economist, and civil servant, widely regarded as one of the most influential thinkers of the 19th century. He was a key proponent of utilitarianism, a moral theory developed by his mentor, Jeremy Bentham, which advocates for actions that maximize happiness and well-being for the greatest number. Mill was also a strong advocate for individual liberty, free speech, and women's rights, authoring works like On Liberty and The Subjection of Women. His ideas on liberty and democracy continue to shape political thought today.
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