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Essays On Some Unsettled Questions Of Political Economy
''Essays on Some Unsettled Questions of Political Economy'' (1844) is a treatise on political economics by John Stuart Mill. Walras' law, a principle in general equilibrium theory named in honour of Léon Walras, was first expressed by Mill in this treatise. Karl Marx remarked of the work, “The few original ideas of Mill Junior are contained in this narrow little volume, not in his fat, pedantic ''magnum opus''.” The significance of this contribution of Mill has been analyzed by Manicas (1987) in his ''History & Philosophy of the Social Sciences'' as follows: :When Adam Smith published his work on The Wealth of Nations, 'political economy' referred to 'the art or practical science of managing the resources of nations, so as to increase its material wealth'. Smith conceived his project holistically and as substantially practical, not analytical. Successors of Smith accepted the broad outlines of his definition, but were concerned with transforming this historical and qualitativ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Economics
Political economy is the study of how economic systems (e.g. markets and national economies) and political systems (e.g. law, institutions, government) are linked. Widely studied phenomena within the discipline are systems such as labour markets and financial markets, as well as phenomena such as growth, distribution, inequality, and trade, and how these are shaped by institutions, laws, and government policy. Originating in the 16th century, it is the precursor to the modern discipline of economics. Political economy in its modern form is considered an interdisciplinary field, drawing on theory from both political science and modern economics. Political economy originated within 16th century western moral philosophy, with theoretical works exploring the administration of states' wealth; "political" signifying the Greek word ''polity'' and "economy" signifying the Greek word '; household management. The earliest works of political economy are usually attributed to the Britis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Stuart Mill
John Stuart Mill (20 May 1806 – 7 May 1873) was an English philosopher, political economist, Member of Parliament (MP) and civil servant. One of the most influential thinkers in the history of classical liberalism, he contributed widely to social theory, political theory, and political economy. Dubbed "the most influential English-speaking philosopher of the nineteenth century", he conceived of liberty as justifying the freedom of the individual in opposition to unlimited state and social control. Mill was a proponent of utilitarianism, an ethical theory developed by his predecessor Jeremy Bentham. He contributed to the investigation of scientific methodology, though his knowledge of the topic was based on the writings of others, notably William Whewell, John Herschel, and Auguste Comte, and research carried out for Mill by Alexander Bain. He engaged in written debate with Whewell. A member of the Liberal Party and author of the early feminist work ''The Subjection o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Walras' Law
Walras's law is a principle in general equilibrium theory asserting that budget constraints imply that the ''values'' of excess demand (or, conversely, excess market supplies) must sum to zero regardless of whether the prices are general equilibrium prices. That is: : \sum_^p_j \cdot (D_j - S_j) = 0, where p_j is the price of good ''j'' and D_j and S_j are the demand and supply respectively of good ''j''. Walras's law is named after the economist Léon Walras of the University of Lausanne who formulated the concept in his ''Elements of Pure Economics'' of 1874. Although the concept was expressed earlier but in a less mathematically rigorous fashion by John Stuart Mill in his ''Essays on Some Unsettled Questions of Political Economy'' (1844), Walras noted the mathematically equivalent proposition that when considering any particular market, if all other markets in an economy are in equilibrium, then that specific market must also be in equilibrium. The term "Walras's law" was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Equilibrium
In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an overall general equilibrium. General equilibrium theory contrasts to the theory of ''partial'' equilibrium, which analyzes a specific part of an economy while its other factors are held constant. In general equilibrium, constant influences are considered to be noneconomic, therefore, resulting beyond the natural scope of economic analysis. The noneconomic influences is possible to be non-constant when the economic variables change, and the prediction accuracy may depend on the independence of the economic factors. General equilibrium theory both studies economies using the model of equilibrium pricing and seeks to determine in which circumstances the assumptions of general equilibrium will hold. The theory dates to the 1870s, particularly t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Léon Walras
Marie-Esprit-Léon Walras (; 16 December 1834 – 5 January 1910) was a French mathematical economist and Georgist. He formulated the marginal theory of value (independently of William Stanley Jevons and Carl Menger) and pioneered the development of general equilibrium theory. Walras is best known for his book ''Éléments d'économie politique pure'', a work that has contributed greatly to the mathematization of economics through the concept of general equilibrium. The definition of the role of the entrepreneur found in it was also taken up and amplified by Joseph Schumpeter. For Walras, exchanges only take place after a Walrasian '' tâtonnement'' (French for "trial and error"), guided by the auctioneer, has made it possible to reach market equilibrium. It was the general equilibrium obtained from a single hypothesis, rarity, that led Joseph Schumpeter to consider him "the greatest of all economists". The notion of general equilibrium was very quickly adopted by major economi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taylor & Francis
Taylor & Francis Group is an international company originating in England that publishes books and academic journals. Its parts include Taylor & Francis, Routledge, F1000 (publisher), F1000 Research or Dovepress. It is a division of Informa, Informa plc, a United Kingdom–based publisher and conference company. Overview The company was founded in 1852 when William Francis (chemist), William Francis joined Richard Taylor (editor), Richard Taylor in his publishing business. Taylor had founded his company in 1798. Their subjects covered agriculture, chemistry, education, engineering, geography, law, mathematics, medicine, and social sciences. Francis's son, Richard Taunton Francis (1883–1930), was sole partner in the firm from 1917 to 1930. In 1965, Taylor & Francis launched Wykeham Publications and began book publishing. T&F acquired Hemisphere Publishing in 1988, and the company was renamed Taylor & Francis Group to reflect the growing number of Imprint (trade name), imp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Karl Marx
Karl Heinrich Marx (; 5 May 1818 – 14 March 1883) was a German philosopher, economist, historian, sociologist, political theorist, journalist, critic of political economy, and socialist revolutionary. His best-known titles are the 1848 pamphlet ''The Communist Manifesto'' and the four-volume (1867–1883). Marx's political and philosophical thought had enormous influence on subsequent intellectual, economic, and political history. His name has been used as an adjective, a noun, and a school of social theory. Born in Trier, Germany, Marx studied law and philosophy at the universities of Bonn and Berlin. He married German theatre critic and political activist Jenny von Westphalen in 1843. Due to his political publications, Marx became stateless and lived in exile with his wife and children in London for decades, where he continued to develop his thought in collaboration with German philosopher Friedrich Engels and publish his writings, researching in the British Mus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Principles Of Political Economy
''Principles of Political Economy'' (1848) by John Stuart Mill was one of the most important economics or political economy textbooks of the mid-nineteenth century. It was revised until its seventh edition in 1871, shortly before Mill's death in 1873, and republished in numerous other editions. Beside discussing descriptive issues such as which nations tended to benefit more in a system of trade based on comparative advantage (Mill's answer: those with more elastic demands for other countries' goods), the work also discussed normative issues such as ideal systems of political economy, critiquing proposed systems such as communism and socialism. Along with ''A System of Logic'', ''Principles of Political Economy'' established Mill's reputation as a leading public intellectual. Mill's sympathetic attitude in this work and in other essays toward contemporary socialism, particularly Fourierism, earned him esteem from the working class as one of their intellectual champions. Prefac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Gutenberg
Project Gutenberg (PG) is a Virtual volunteering, volunteer effort to digitize and archive cultural works, as well as to "encourage the creation and distribution of eBooks." It was founded in 1971 by American writer Michael S. Hart and is the oldest digital library. Most of the items in its collection are the full texts of books or individual stories in the public domain. All files can be accessed for free under an open format layout, available on almost any computer. , Project Gutenberg had reached 50,000 items in its collection of free eBooks. The releases are available in Text file, plain text as well as other formats, such as HTML, PDF, EPUB, Mobipocket, MOBI, and Plucker wherever possible. Most releases are in the English language, but many non-English works are also available. There are multiple affiliated projects that provide additional content, including region- and language-specific works. Project Gutenberg is closely affiliated with Distributed Proofreaders, an Inte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1844 Books
In the Philippines, it was the only leap year with 365 days, as December 31 was skipped when 1845 began after December 30. Events January–March * January 15 – The University of Notre Dame, based in the city of the same name, receives its charter from Indiana. * February 27 – The Dominican Republic gains independence from Haiti. * February 28 – A gun on the USS ''Princeton'' explodes while the boat is on a Potomac River cruise, killing two United States Cabinet members and several others. * March 8 ** King Oscar I ascends to the throne of Sweden–Norway upon the death of his father, Charles XIV/III John. ** The Althing, the parliament of Iceland, is reopened after 45 years of closure. * March 9 – Giuseppe Verdi's opera ''Ernani'' debuts at Teatro La Fenice, Venice. * March 12 – The Columbus and Xenia Railroad, the first railroad planned to be built in Ohio, is chartered. * March 13 – The dictator Carlos Antonio López becomes first President of Paraguay. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Books By John Stuart Mill
A book is a medium for recording information in the form of writing or images, typically composed of many pages (made of papyrus, parchment, vellum, or paper) bound together and protected by a cover. The technical term for this physical arrangement is ''codex'' (plural, ''codices''). In the history of hand-held physical supports for extended written compositions or records, the codex replaces its predecessor, the scroll. A single sheet in a codex is a leaf and each side of a leaf is a page. As an intellectual object, a book is prototypically a composition of such great length that it takes a considerable investment of time to compose and still considered as an investment of time to read. In a restricted sense, a book is a self-sufficient section or part of a longer composition, a usage reflecting that, in antiquity, long works had to be written on several scrolls and each scroll had to be identified by the book it contained. Each part of Aristotle's ''Physics'' is called a b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Books
Politics (from , ) is the set of activities that are associated with making decisions in groups, or other forms of power relations among individuals, such as the distribution of resources or status. The branch of social science that studies politics and government is referred to as political science. It may be used positively in the context of a "political solution" which is compromising and nonviolent, or descriptively as "the art or science of government", but also often carries a negative connotation.. The concept has been defined in various ways, and different approaches have fundamentally differing views on whether it should be used extensively or limitedly, empirically or normatively, and on whether conflict or co-operation is more essential to it. A variety of methods are deployed in politics, which include promoting one's own political views among people, negotiation with other political subjects, making laws, and exercising internal and external force, including ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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