Principles of Political Economy (Masterplots, Revised Second Edition)
At a glance:
- Author: John Stuart Mill
- First Published: 1848
- Type of Work: Economics
- Genres: Nonfiction, Economics
- Subjects: Politics, Nineteenth century, England or English people, Economics, Money, Capitalism, Wealth
Critical Evaluation:
John Stuart Mill’s central concern in Principles of Political Economy is the production and distribution of wealth, which he defines as everything that serves human desires that is not provided gratuitously by nature. The most important elements in wealth are goods currently produced.
Production requires labor and appropriate natural objects. The labor devoted to a product is rewarded out of its sale proceeds, but before these are realized, advances to workers are required, which come from capital. Productive labor is what yields an increase...
[The entire page is 2196 words long]
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