Economics Dictionary of Arguments

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Economy: Economy is the system of production, distribution, and consumption of goods and services within a society. It determines how resources are allocated and how goods and services are produced and distributed. See also Economics, Markets, Goods, Labour, Society.
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 Economy - Dictionary of Arguments

Höffe I 351
Economy/Mill/Höffe: Mills' economic theory considers the separation of the laws of distribution from the laws of production to be essential: While the laws of
Höfe I 352
production of wealth are still largely beyond human control whic is, according to Adam Smith, a result of the action of an "invisible hand" working behind our backs; the distribution of wealth is the responsibility of humans.
>A. Smith
Distribution/Production: However, there is a connection between the two areas, which Mill also acknowledges that distribution impacts on production, which in turn impacts on distribution.
Utilitarianism: As a utilitarian, Mill demands a distribution of goods that maximizes the collective good.
>Distributive Justice.
Inequality/Mill: Therefore, in contrast to philosophical communism, for example, which knows no private property whatsoever and places all people on an equal footing, a moderate inequality in distribution could be just (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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