About the Book
Mill’s Principles of Political Economy, is one of the most widely read of all books on economics in that period. He intended the work as both a survey of contemporary economic thought and as an exploration of applications of economic ideas to social concerns. It was not a book merely of abstract science, but also of application, and treated Political Economy not as a thing by itself, but as a fragment of a greater whole. These two interests nicely divide the text into the first three more technical books on production, distribution, and exchange and the last two books, which address the influences of societal progress and of government on economic activity (and vice versa). He also shared concerns with others about the moral impact of industrialization. His recommendations for the economic organization of society, like his political and social policies, always paid careful attention to how institutions, laws, and practices impacted the intellectual, moral facets and well-being of the individuals operating under or within them.
About the Author
John Stuart Mill was an influential liberal thinker of the 19th century. His views are of continuing significance, and are generally recognized to be among the deepest and certainly the most effective defenses of empiricism and of a liberal political view of society and culture. The overall aim of his philosophy is to develop a positive view of the universe and the place of humans in it, one which contributes to the progress of human knowledge, individual freedom and well-being. His economic philosophy was one of free markets but he also accepted the principle of legislative intervention for the purpose of animal welfare.