Economics Dictionary of Arguments

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Political economy: Classical political economy, founded by Adam Smith, David Ricardo and Karl Marx, was concerned in particular with the distribution of income and wealth, the role of government in the economy, and the effects of economic growth on society. See also Economics, A. Smith, D. Ricardo, K. Marx.
Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments.

Author Concept Summary/Quotes Sources

John Stuart Mill on Political Economy - Dictionary of Arguments

Höffe I 351
Political Economy/Mill/Höffe: According to socialist authors such as the Englishman Robert Owen (1771-1858) (...) and the Frenchman Louis Blanc (1811-1882), free competition is to be abolished and the state is to be assigned the entirety of economic tasks.
MillVsBlanc/MillVsOwen/MillVsSocialism: Mill(1) counters this with the argument that individuals can act selfishly and judge their own interests best. Especially in the economic sphere, the counter-strategy to socialism, the non-intervention of the state (laisser-faire), brings about a double optimization: for Mill as a >utilitarian the most efficient state activity and for him as a liberal the strongest incentive for the development of individuals.
Humans/Mill: Mill rejects the two "economistic" views, on the other hand, that the human is a homo oeconomicus by nature and that in social life the primacy of the economy is due. People, he says, have other things more important than satisfying their needs and interests by purchasing relevant goods and services as rationally as possible.
What is decisive are those things such as ideas and fine arts, which humans seek for their own sake. Last but not least, instead of the economy, politics alone deserves - and should complement, humane and humanitarian practice - priority(1).

1. J. St. Mill, Principles of Political Economy 1848

Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments
The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

Mill I
John St. Mill
A System of Logic, Ratiocinative and Inductive, London 1843
German Edition:
Von Namen, aus: A System of Logic, London 1843
Eigennamen, Ursula Wolf, Frankfurt/M. 1993

Mill II
J. St. Mill
Utilitarianism: 1st (First) Edition Oxford 1998

Höffe I
Otfried Höffe
Geschichte des politischen Denkens München 2016

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