Principles of Political Economy (and Some Applications in Social Philosophy · Volume 1)

Author: (British) John Stuart Mill, translated by Zhao Rongqian, Sang Bingyan, Zhu Yang, edited by Hu Qilin, proofread by Zhu Yang
Publisher:
Publish Date: 1991-09-01
Features: John Stuart Mill (1806-1873) published his renowned economic work, Principles of Political Economy—With Some of Its Applications to Social Philosophy (hereinafter referred to as Principles), in 1848. Principles of Political Economy—With Some of Its Applications to Social Philosophy was a "modern Wealth of Nations" that adapted to the broader knowledge and emerging ideas of the current era. It was an undisputed economic bible for Western countries in the second half of the 19th century, revered as the holy scripture of economic theory and a must-read textbook in political economy. Its dominant position was only replaced by Marshall's Principles of Economics in 1890. It is a renowned economic work. John Mill, the author, was a famous historian, philosopher, and economist. The book is divided into two volumes, and this is the first volume. The compromising and eclecticism of economic theory is recognized as a distinctive feature of Mill's Principles. Followers believe that this characteristic marks Principles as a transitional work that summarizes the economic development of the Western world from Adam Smith to the mid-19th century, establishing a complete system of political economy. Critics, however, argue that Mill's compromising and eclecticism is merely a declaration of the bankruptcy of bourgeois economics.