Knowledge Problem

History of Economic Thought Course Video: John Stuart Mill

Lynne Kiesling

[vimeo 67140603 w=500 h=281]

You may know John Stuart Mill the utilitarian philosopher, the JS Mill of On Liberty and of Utilitarianism. You may know him as the philosopher who can’t hold his shandy in the Monty Python philosopher’s song.

[youtube=http://www.youtube.com/watch?v=m_WRFJwGsbY]

What you may not know is how important an economist Mill was. He made some original contributions that bridged from the classical economics of Smith and Ricardo (and others) to the subsequent marginal revolution of Jevons, Menger, and Walras.

You can read some of them yourself in Mill’s Principles of Political Economy (1848), available at the Library of Economics & Liberty.