Principles of Political Economy and Chapters on Socialism

This volume unites, for the first time, Books IV and V of Mill''s great treatise on political economy with his fragmentary chapters on socialism. It shows him applying his classical economic theory to policy questions of abiding concern, particularly the desirability of sustained growth of national wealth and population versus a stationary state, the merits of capitalism versus socialism, and the expedient scope of government intervention in the competitive market economy. His answers to those questions have considerable relevance today, and they serve to illustrate the enduring power and imagination of his distinctive liberal utilitarian philosophy. In his introduction, Jonathan Riley clarifies Mill''s approach, considers what constitutes the Millian Utopia, and shows how examination of such an ideal society provides valuable insights into the structure of his philosophy. This volume unites, for the first time, Books IV and V of Mill''s great treatise on political economy with his fragmentary chapters on socialism. It shows him applying his classical economic theory to policy questions of abiding concern, particularly the desirability of sustained growth of national wealth and population versus a stationary state, the merits of capitalism versus socialism, and the expedient scope of government intervention in the competitive market economy. His answers to those questions have considerable relevance today, and they serve to illustrate the enduring power and imagination of his distinctive liberal utilitarian philosophy. In his introduction, Jonathan Riley clarifies Mill''s approach, considers what constitutes the Millian Utopia, and shows how examination of such an ideal society provides valuable insights into the structure of his philosophy. ABOUT THE SERIES: For over 100 years Oxford World''s Classics has made available the widest range of literature from around the globe. Each affordable volume reflects Oxford''s commitment to scholarship, providing the most accurate text plus a wealth of other valuable features, including expert introductions by leading authorities, helpful notes to clarify the text, up-to-date bibliographies for further study, and much more.