Principles of Political Economy
With Some of Their Applications to Social Philosophy
by John Stuart Mill · first published 1848
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The appearance of a treatise like the present, on a subject on which so many works of merit already exist, may be thought to require some explanation. It might perhaps be sufficient to say, that no existing treatise on Political Ecomony contains the latest improvements which have been made in the theory of the subject. Many new ideas, and new applications of ideas, have been elicited by the discussions of the last few years, especially those on Currency, on Foreign Trade, and on the important topics connected more or less intimately with Colonization: and there seems reason that the field of P
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…is only in the backward countries of the world that increased production is still an important object: in those most advanced, what is economically needed is a better distribution" -John Stuart Mill, Principles of Political Economy, 1848, said at a time when the per capita GDP of the UK was the same as Kenya's today, i.e. 20X less.
on “Louvre makes its entire collection available online” ↗…is only in the backward countries of the world that increased production is still an important object: in those most advanced, what is economically needed is a better distribution" -John Stuart Mill, Principles of Political Economy (1848, book IV, chap. VI)
on “American society is so focused on race that it is blind to class” ↗…impediment to conducting business concerns on a large scale, is the rarity of persons who are supposed fit to be trusted with the receipt and expenditure of large sums of money." - John Stuart Mill, Principles of Political Economy, 1848
on “There's no such thing as a free watch (2017)” ↗…is only in the backward countries of the world that increased production is still an important object: in those most advanced, what is economically needed is a better distribution" -John Stuart Mill, Principles of Political Economy (1848, book IV, chap. VI) One day we'll look back at the levels of wealth people today possess the same way that today we look back at the level of material prosperity people enjoyed in 1848, as being…
on “Happy nations don't focus on growth” ↗…from the powers of nature by the intellect and energy of scientific discoverers, become the common property of the species, and the means of improving and elevating the universal lot. John Stuart Mill, Principles of Political Economy, 1848
on “Workism Is Making Americans Miserable (2019)” ↗"John Stuart Mill says in his Principles of Political Economy: ‘It is questionable if all the mechanical inventions yet made have lightened the day’s toil of any human being.’ That is, however, by no means the aim of the application of machinery under capitalism...…
on “Workism Is Making Americans Miserable (2019)” ↗…is only in the backward countries of the world that increased production is still an important object: in those most advanced, what is economically needed is a better distribution" -John Stuart Mill, Principles of Political Economy (1848, book IV, chap. VI) The subsequent century saw economic growth rates in advanced countries accelerate, thus proving Mill wrong. If it weren't for the massive increase in social welfarism and free-market-suppressing…
on “Autoenshittification. How the computer killed capitalism. – by Cory Doctorow” ↗