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The Principles of Political Economy

English BooksWhale Edition by John Stuart Mill

Mill’s major economic treatise on production, distribution, labor, capital, value, trade, and social reform.

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The Principles of Political Economy

The Principles of Political Economy is John Stuart Mill’s major synthesis of classical economics and liberal social thought. It examines production, distribution, labor, capital, property, exchange, international trade, government policy, and the ethical questions surrounding wealth and progress.

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The Principles of Political Economy was first published in 1848. Its publication history supports the public-domain basis for this original english text in the United States.

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The Principles of Political Economy

John Stuart Mill

Principles Of Political Economy

By

John Stuart Mill

Abridged, with Critical, Bibliographical,

and Explanatory Notes, and a Sketch

of the History of Political Economy,

By

J. Laurence Laughlin, Ph. D.

Assistant Professor of Political Economy in Harvard University

A Text-Book For Colleges.

New York:

D. Appleton And Company,

1, 3, and 5 Bond Street.

Return in Proportion to the Increased Application of Labor and Capital. § 2. Antagonist Principle to the Law of Diminishing Return; the Progress of Improvements in Production. § 3. —In Railways. § 4. —In Manufactures. § 5. Law Holds True of Mining.

Preview chapterChapter X. Consequences Of The Foregoing Laws.Preview

§ 1. Remedies for Weakness of the Principle of Accumulation. § 2. Even where the Desire to Accumulate is Strong, Population must be Kept within the Limits of Population from Land. § 3. Necessity of Restraining Population not superseded by Free Trade in Food. § 4. —Nor by Emigration.

Preview chapterBook II. Distribution.Preview

Book II. Distribution.

Table of contents

Inside this edition

  1. 01Full text
  2. 02Chapter X. Consequences Of The Foregoing Laws.
  3. 03Book II. Distribution.
  4. 04Chapter I. Of Property.
  5. 05Chapter II. Of Wages.
  6. 06Chapter III. Of Remedies For Low Wages.
  7. 07Chapter IV. Of The Differences Of Wages In Different Employments.
  8. 08Chapter V. Of Profits.
  9. 09Chapter VI. Of Rent.
  10. 10Book III. Exchange.
  11. 11Chapter I. Of Value.
  12. 12Chapter II. Ultimate Analysis Of Cost Of Production.
  13. 13Chapter III. Of Rent, In Its Relation To Value.
  14. 14Chapter IV. Of Money.
  15. 15Chapter V. Of The Value Of Money, As Dependent On Demand And Supply.
  16. 16Chapter VI. Of The Value Of Money, As Dependent On Cost Of Production.
  17. 17Chapter VII. Of A Double Standard And Subsidiary Coins.
  18. 18Chapter VIII. Of Credit, As A Substitute For Money.
  19. 19Chapter IX. Influence Of Credit On Prices.
  20. 20Chapter X. Of An Inconvertible Paper Currency.
  21. 21Chapter XI. Of Excess Of Supply.
  22. 22Chapter XII. Of Some Peculiar Cases Of Value.
  23. 23Chapter XIII. Of International Trade.
  24. 24Chapter XIV. Of International Values.
  25. 25Chapter XV. Of Money Considered As An Imported Commodity.
  26. 26Chapter XVI. Of The Foreign Exchanges.
  27. 27Chapter XVII. Of The Distribution Of The Precious Metals Through The
  28. 28Chapter XVIII. Influence Of The Currency On The Exchanges And On
  29. 29Chapter XIX. Of The Rate Of Interest.
  30. 30Chapter XX. Of The Competition Of Different Countries In The Same
  31. 31Chapter XXI. Of Distribution, As Affected By Exchange.
  32. 32Book IV. Influence Of The Progress Of Society On Production And
  33. 33Chapter I. Influence Of The Progress Of Industry And Population On
  34. 34Chapter II. Influence Of The Progress Of Industry And Population On
  35. 35Chapter III. Of The Tendency Of Profits To A Minimum.
  36. 36Chapter IV. Consequences Of The Tendency Of Profits To A Minimum, And
  37. 37Chapter V. On The Possible Futurity Of The Laboring-Classes.
  38. 38Book V. On The Influence Of Government.
  39. 39Chapter I. On The General Principles Of Taxation.
  40. 40Chapter II. Of Direct Taxes.
  41. 41Chapter III. Of Taxes On Commodities, Or Indirect Taxes.
  42. 42Chapter IV. Comparison Between Direct And Indirect Taxation.
  43. 43Chapter V. Of A National Debt.
  44. 44Chapter VI. Of An Interference Of Government Grounded On Erroneous
  45. 45PREFACE.
  46. 46Book V, on the Influence of Government, have been simply omitted. In one
  47. 47Book III, treating of a standard of value, under the chapter treating of
  48. 48J. LAURENCE LAUGHLIN.
  49. 49HARVARD UNIVERSITY, CAMBRIDGE, MASSACHUSETTS,
  50. 50INTRODUCTORY.
  51. 51book has been translated into English (New York, 1880).
  52. 52GENERAL TREATISES FORMING A PARALLEL COURSE OF READING WITH MILL.
  53. 53IMPORTANT GENERAL WORKS.
  54. 54TREATISES ON SPECIAL SUBJECTS.
  55. 55DICTIONARIES.
  56. 56REPORTS AND STATISTICS.
  57. 57BOOK I. PRODUCTION.
  58. 58Chapter I. Of The Requisites Of Production.
  59. 59Chapter II. Of Unproductive Labor.
  60. 60Chapter III. Of Capital.
  61. 61Chapter IV. Fundamental Propositions Respecting Capital.
  62. 62Chapter V. On Circulating And Fixed Capital.
  63. 63Chapter VI. Of Causes Affecting The Efficiency Of Production.
  64. 64Chapter VII. Of The Law Of The Increase Of Labor.
  65. 65Chapter VIII. Of The Law Of The Increase Of Capital.
  66. 66Chapter IX. Of The Law Of The Increase Of Production From Land.
  67. 67Chapter X. Consequences Of The Foregoing Laws.
  68. 68BOOK II. DISTRIBUTION.
  69. 69Chapter I. Of Property.
  70. 70Chapter II. Of Wages.
  71. 71Chapter III. Of Remedies For Low Wages.
  72. 72Chapter IV. Of The Differences Of Wages In Different Employments.
  73. 73Chapter V. Of Profits.
  74. 74Chapter VI. Of Rent.
  75. 75act in concert, is still a monopolized article. But even when monopolized,
  76. 76III. 24 12 18 6 12 0 .. ..
  77. 77BOOK III. EXCHANGE.
  78. 78Chapter I. Of Value.
  79. 79chapter he includes some part of profit in the analysis). It will
  80. 80Chapter II. Ultimate Analysis Of Cost Of Production.
  81. 81act of production, what Mr. Mill does not include, the cost, or
  82. 82chapter.
  83. 83Chapter III. Of Rent, In Its Relation To Value.
  84. 84A, B, C, ... | K, L, M, N, O, | ... X, Y, Z.
  85. 85Chapter IV. Of Money.
  86. 86Chapter V. Of The Value Of Money, As Dependent On Demand And Supply.
  87. 87V = 1 / (Q × R).
  88. 88Chapter VI. Of The Value Of Money, As Dependent On Cost Of Production.
  89. 89chapter.
  90. 90Chapter VII. Of A Double Standard And Subsidiary Coins.
  91. 91Chapter VIII. Of Credit, As A Substitute For Money.
  92. 92Chapter IX. Influence Of Credit On Prices.
  93. 93Chapter X. Of An Inconvertible Paper Currency.
  94. 94Chapter XI. Of Excess Of Supply.
  95. 95Chapter XII. Of Some Peculiar Cases Of Value.
  96. 96Chapter XIII. Of International Trade.
  97. 97Chapter XIV. Of International Values.
  98. 98Chapter XV. Of Money Considered As An Imported Commodity.
  99. 99Chapter XVI. Of The Foreign Exchanges.
  100. 100Chapter XVII. Of The Distribution Of The Precious Metals Through The
  101. 101Chapter XVIII. Influence Of The Currency On The Exchanges And On Foreign
  102. 102act upon the trade between other countries and the mining countries, and
  103. 103Chapter XIX. Of The Rate Of Interest.
  104. 104Chapter XX. Of The Competition Of Different Countries In The Same Market.
  105. 105Chapter XXI. Of Distribution, As Affected By Exchange.
  106. 106BOOK IV. INFLUENCE OF THE PROGRESS OF SOCIETY ON PRODUCTION AND
  107. 107DISTRIBUTION.
  108. 108Chapter I. Influence Of The Progress Of Industry And Population On Values
  109. 109Chapter II. Influence Of The Progress Of Industry And Population On Rents,
  110. 110Chapter III. Of The Tendency Of Profits To A Minimum.
  111. 111Chapter IV. Consequences Of The Tendency Of Profits To A Minimum, And The
  112. 112Chapter V. On The Possible Futurity Of The Laboring-Classes.
  113. 113chapter,(314) where the wages have been increased, but the hours
  114. 114BOOK V. ON THE INFLUENCE OF GOVERNMENT.
  115. 115Chapter I. On The General Principles Of Taxation.
  116. 116Chapter II. Of Direct Taxes.
  117. 117Chapter III. Of Taxes On Commodities, Or Indirect Taxes.
  118. 118Chapter IV. Comparison Between Direct And Indirect Taxation.
  119. 119Chapter V. Of A National Debt.
  120. 120Chapter VI. Of An Interference Of Government Grounded On Erroneous
  121. 121APPENDIX I. BIBLIOGRAPHIES.
  122. 122APPENDIX II. EXAMINATION QUESTIONS.
  123. 123DEFINITIONS.
  124. 124LABOR.
  125. 125CAPITAL.
  126. 126EFFICIENCY OF PRODUCTION.
  127. 127POPULATION.
  128. 128INCREASE OF PRODUCTION.
  129. 129PROPERTY.
  130. 130WAGES.
  131. 131PROFITS.
  132. 132RENT.
  133. 133VALUE.
  134. 134MONEY.
  135. 135CREDIT.
  136. 136OVER-PRODUCTION.
  137. 137PECULIAR CASES OF VALUE.
  138. 138INTERNATIONAL TRADE AND VALUES.
  139. 139FOREIGN EXCHANGES.
  140. 140INTEREST.
  141. 141FOREIGN COMPETITION.
  142. 142PROGRESS OF SOCIETY.
  143. 143FUTURE OF LABORING-CLASSES.
  144. 144TAXATION.
  145. 145PROTECTION.
  146. 146THE END.
  147. 147ADVERTISEMENTS.
  148. 148SCIENCE.
  149. 149STEWART.
  150. 150NEW YORK, BOSTON, CHICAGO, SAN FRANCISCO.
  151. 151PHYSICS.
  152. 152HYDROSTATICS, AND PNEUMATICS. Part II. HEAT. Part III. ELECTRICITY AND
  153. 153NEW YORK, BOSTON, CHICAGO, SAN FRANCISCO.
  154. 154CHARTS.
  155. 155Book III in his “Wealth of Nations” is concerned with the policy of
  156. 156book is a study in sociology, not in political economy.
  157. 157Chapter II, § 2.
  158. 158Book II, Chap. V, § 5.
  159. 159Book III, Chap. II, § 4, and p. 269.

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