The principle of economy favours the theory which gives the most accurate predictions; of two equally accurate theories, economy favours the one which incorporates least metaphysics. The intention is to show that were metaphysical commitments of theories openly acknowledged and simplicity and other virtues generally accepted as judges in theory choice, the progress rate of science would likely become more optimal.

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. His answers to policy questions are still highly relevant today, and Riley's introduction clarifies his distinctive liberal utilitarian philosophy.

The Collected Works of John Stuart Mill took thirty years to complete and is acknowledged as the definitive edition of J.S. Mill and as one of the finest works editions ever completed. Mill's contributions to philosophy, economics, and history, and in the roles of scholar, politician and journalist can hardly be overstated and this edition remains the only reliable version of the full range of Mill's writings. Each volume contains extensive notes, a new introduction and an index. Many of the (...) volumes have been unavailable for some time, but the Works are now again available, both as a complete set and as individual volumes. (shrink)

This article analyzes six ethical principles at work in the Pastoral Letter of the Roman Catholic Bishops on the United States economy. The first three principles derive from the Thomistic tradition with its attempt to avoid the extremes of collectivism and individualism. Human beings are by nature social and called to live in political society. The principle of subsidiarity guides the role of the state. Distributive and social justice furnish the criteria for a just distribution of human goods. (...) The fourth ethical principle which is a later development in the Catholic tradition recognizes human rights including economic rights. In keeping with recent emphases in Catholic teaching the fifth principle insists that the goods of creation exist to serve all and stresses the social aspect of property. The sixth principle enunciates a preferential option for the poor and has come to the fore in the light of recent liberation theology. (shrink)

The Collected Works of John Stuart Mill took thirty years to complete and is acknowledged as the definitive edition of J.S. Mill and as one of the finest works editions ever completed. Mill's contributions to philosophy, economics, and history, and in the roles of scholar, politician and journalist can hardly be overstated and this edition remains the only reliable version of the full range of Mill's writings. Each volume contains extensive notes, a new introduction and an index. Many of the (...) volumes have been unavailable for some time, but the Works are now again available, both as a complete set and as individual volumes. (shrink)

Stephen Nathanson's clear-sighted abridgment of Principles of Political Economy, Mill's first major work in moral and political philosophy, provides a challenging, sometimes surprising account of Mill's views on many important topics: socialism, population, the status of women, the cultural bases of economic productivity, the causes and possible cures of poverty, the nature of property rights, taxation, and the legitimate functions of government. Nathanson cuts through the dated and less relevant sections of this large work and includes significant material omitted (...) in other editions, making it possible to see the connections between the views Mill expressed in Principles of Political Economy and the ideas he defended in his later works, particularly On Liberty. Indeed, studying Principles of Political Economy, Nathanson argues in his general Introduction, can help to resolve the apparent contradiction between Mill's views in On Liberty and those in Utilitarianism, making it a key text for understanding Mill’s philosophy as a whole. (shrink)

Published in two volumes or as a set this provides a definitive scholarly variorum edition of Malthus's Principles of Political Economy. It contains the full text of the first 1820 edition, including Malthus's own invaluable 70-page summary, and contains details of all the additions, omissions and emendations that occurred between the first and the second, posthumous, edition of 1836. The first edition is extremely rare, and for over 150 years confusions and disagreements have inevitably occurred in the interpretation of (...) Malthus's economics because of the absence of any systematic record of the differences between the two editions. The editor has written a lengthy and authoritative introduction giving an account, derived mainly from contemporary correspondence, of the events and circumstances surrounding the publication of the two editions. It shows the relationship between the Principles and Malthus's other writings and activities as a political economist. There is also an editorial commentary that aims to explain the significance and origin of the alterations. (shrink)

This set provides a definitive scholarly variorum edition of Malthus's Principles of Political Economy. It contains the full text of the first 1820 edition, including Malthus's own invaluable 70-page summary, and contains details of all the additions, omissions, and emendations that occurred between the first and the second, posthumous, edition of 1836. The first edition is extremely rare, and for over 150 years confusions and disagreements have inevitably occurred in the interpretation of Malthus's economics because of the absence of (...) any systematic record of the differences between the two editions. The editor has written a lengthy and authoritative introduction giving an account, derived mainly from contemporary correspondence, of the events and circumstances surrounding the publication of the two editions. It shows the relationship between the Principles and Malthus's other writings and activities as a political economist. there is also an editorial commentary that aims to explain the significance and origin of the alterations. (shrink)

Henry Sidgwick,, philosopher, classicist, lecturer and fellow of Trinity College, Cambridge, and supporter of women's university education, is well known for his Method of Ethics, a significant and influential book on moral theory. First published in 1883, this work considers the role the state plays in economic life, and whether economics should be considered an Art or a Science. Sidgwick applies his utilitarian views to economics, defending John Stuart Mill's 1848 treatise of the same name. The book calls for a (...) return to traditional political economy by eliminating 'needless polemics'. Sidgwick also outlines the need to bridge the gap between his analytical or deductive method and the inductive method employed by Mill's critics, the new generation of economic philosophers including John Elliot Cairnes and William Stanley Jevons. The second edition, reissued here, was published in 1887. (shrink)

A friend, correspondent and intellectual successor to David Ricardo, John Ramsay McCulloch forged his reputation in the emerging field of political economy by publishing deeply researched articles in Scottish periodicals and the Encyclopaedia Britannica. From 1828 he spent nearly a decade as professor of political economy at the newly founded University of London, thereafter becoming comptroller of the Stationery Office. Perhaps the first professional economist, McCulloch had become internationally renowned by the middle of the century, recognised for sharing (...) his ideas through lucid lecturing and writing. First published in 1825, this textbook was an expanded version of an article originally written in 1822 for the Encyclopaedia Britannica. Reissued here is the 1830 enlarged second edition. In Britain and America the work reached many students, and was translated into multiple European languages. Several other works written or edited by McCulloch are also reissued in the Cambridge Library Collection. (shrink)

Published in two volumes or as a set this provides a definitive scholarly variorum edition of Malthus's Principles of Political Economy. It contains the full text of the first 1820 edition, including Malthus's own invaluable 70-page summary, and contains details of all the additions, omissions and emendations that occurred between the first and the second, posthumous, edition of 1836. The first edition is extremely rare, and for over 150 years confusions and disagreements have inevitably occurred in the interpretation of (...) Malthus's economics because of the absence of any systematic record of the differences between the two editions. The editor has written a lengthy and authoritative introduction giving an account, derived mainly from contemporary correspondence, of the events and circumstances surrounding the publication of the two editions. It shows the relationship between the Principles and Malthus's other writings and activities as a political economist. There is also an editorial commentary that aims to explain the significance and origin of the alterations. (shrink)

Stephen Nathanson's clear-sighted abridgment of _Principles of Political Economy_, Mill's first major work in moral and political philosophy, provides a challenging, sometimes surprising account of Mill's views on many important topics: socialism, population, the status of women, the cultural bases of economic productivity, the causes and possible cures of poverty, the nature of property rights, taxation, and the legitimate functions of government. Nathanson cuts through the dated and less relevant sections of this large work and includes significant material omitted in (...) other editions, making it possible to see the connections between the views Mill expressed in _Principles of Political Economy_ and the ideas he defended in his later works, particularly _On Liberty_. Indeed, studying _Principles of Political Economy_, Nathanson argues in his general Introduction, can help to resolve the apparent contradiction between Mill's views in On Liberty and those in _Utilitarianism_, making it a key text for understanding Mill’s philosophy as a whole. (shrink)

A new variational method, the principle of least radix economy, is formulated. The mathematical and physical relevance of the radix economy, also called digit capacity, is established, showing how physical laws can be derived from this concept in a unified way. The principle reinterprets and generalizes the principle of least action yielding two classes of physical solutions: least action paths and quantum wavefunctions. A new physical foundation of the Hilbert space of quantum mechanics is then (...) accomplished and it is used to derive the Schrödinger and Dirac equations and the breaking of the commutativity of spacetime geometry. The formulation provides an explanation of how determinism and random statistical behavior coexist in spacetime and a framework is developed that allows dynamical processes to be formulated in terms of chains of digits. These methods lead to a new foundation for Lorentz transformations and special relativity. The Parker-Rhodes combinatorial hierarchy is encompassed within our approach and this leads to an estimate of the interaction strength of the electromagnetic and gravitational forces that agrees with the experimental values to an error of less than one thousandth. Finally, it is shown how the principle of least-radix economy naturally gives rise to Boltzmann’s principle of classical statistical thermodynamics. A new expression for a general nonequilibrium entropy is proposed satisfying the Second Law of Thermodynamics. (shrink)

Reviews : Kozo Uno, Principles of Political Economy : Theory of a Purely Capitalist Society, Make to Itoh, Value and Crisis: Essays on Marxian Economics in Japan.

The paper delves into the methodological aspects of how foundational mathematical and physical tenets, most notably the principle of least action, are interpreted and assimilated within humanities discourse. The pursuit of the article’s objectives is driven by the necessity for a philosophical and methodological analysis of the current conceptual status of the principle of least action. This analysis is informed by cognitive-axiological and teleological imperatives of a “synthetic” development program for the principle. Any fundamental principle will (...) not have a definitive explanation, as otherwise it would not be fundamental, but in this case, some justification can be given based on deeper grounds discussed in the article. Drawing on the epistemological frameworks of French philosophers P. Hadot, E. Levinas, J. Bouveresse, and J.-T. Desanti, the article weaves together mathematical abstractions with human experience and philosophical doctrines with physical theories. J.-T. Desanti’s perspective on mathematical objects as an outcome of human activity is examined. Also scrutinized is B. Nicolescu’s concept of transdisciplinarity, which challenges the traditional subject-object dualism in science. The author’s methodological stance emerges from a dialectical viewpoint, one that eschews a simplistic dichotomy between materialism and idealism and is grounded in rigorous scientific inquiry and an exhaustive examination of the subject matter itself. The principle of least action, as a paramount principle in physics, is shown to exemplify a legacy of innovation, positioning it as both methodologically insightful and heuristically valuable. The paper also highlights how this principle diverges from the classical principle of economy. The broader goal – within the context of “sustainable development,” transdisciplinary studies, and creative industries – is to establish the principle of least action as a paradigmatic imperative for interaction within social and economic systems. The conclusions drawn from this study contribute to a deeper understanding of the principle’s essence, the nature of transdisciplinarity, and confront the vestiges of scientism in the humanities. (shrink)

In a recent paper, Chomsky (1989) has proposed two principles which choose among competing transformational derivations. He calls them principles of “Economy of Derivation”. These are the Least Effort principle and the Last Resort principle, seen in (1a-b). (The _________ _________ _ _ nomenclature is partially my own: Chomsky uses the term “Principle of Least Effort” for (1a-b) together.).

The standpoint of this article is, first and foremost, a historical one, giving an introductory outline of a general theory of thrift. More specifically, it aims at comparing the principle (or: principles) of economy of thought and the principle of “natural economy” to coin a short term.By way of a prologue, a historical and interpretative summary of events shows the consequences of a cultural fact which hallmarks the 14th century and, in itself, restores the first frank (...) expression of a principle of thrift, at once theoretical and practical, to its essential context, thus countering the in flation of abstract entities. Nevertheless, it would not appear, three centuries later, that the nosology of the Diafoirus, at which Moliere poked so much fun, had already adopted this precious standard for itself. (shrink)

First published in 1982. Routledge is an imprint of Taylor & Francis, an informa company.

In 'Yeogi (禮記)', the Chinese scriptures of Confucianism, they recoded the solar calendar of modern viewpoints. According to the ancient document, the 24 solar terms was one of seasonal divisions in a year. The regularly change of the four seasons play an important part in the national economic project. For a national economy depended on agriculture in East Asia of ancient times, the administration to pay no regard to the change of the season was directly connected to the fall (...) of the nation. And then the legislator must enact laws to reflect the change of the season. According to the 'Wolryeong (月令)' in 'Yeogi (禮記)', there is recoded national regulations to suit with the each twelve momth. The first month of spring is the prime of the year (February). The month shows sign of new livingthings. The ruler take order to protect the first breath of spring and ought to put a ban on the military training and labor mobilization. The reasons are to safeguard the new life and not to interrupt the preparation for farming. Confucian attach value to the nature within a human’s way of life. Therefore the norm of human do correlate closely with the principle of nature. The rule of Wuju (宇宙) was not a simple concept of the natural phenomenon and Cheon (天) was not the Almighty for himself. Cheon was just the existence of virtue and moral influence in the confidence of man. And Ji (地) was the Mother of all things. In this space man had to manage the world in sympathy with the process of cheonJi (天地); Cheonsi (天時), JIri (地利), Inhwa (人和). (shrink)

ABSTRACTThis article has two aims. The first is to explore the early reception of James Steuart in Italy, focusing on Giovanni Tamassia’s writings. In his Dello spirito di riforma, written between 1799 and 1800, Tamassia was the first Italian author to assume Steuart as a point of reference in economic analysis. Largely re-proposing Steuart’s considerations on the issues of redistribution of land, of luxury, and of comparison between ancient and modern times, he contributed decisively to the first circulation in Italy (...) of the Principles of Political Economy. The second aim is to shed light on the singular reading given by Tamassia of Steuart’s thought. In his works Lezione di economia politica and Delle scienze e della libertà relativamente al commercio, the Italian author proposed an economic liberal reading of the Principles. Deliberately downplaying the importance attributed by Steuart to protectionist policies, he attempted to demonstrate the compatibility between the economic theories of Steuart and those of Smith in the matter of economic freedom. Rather than being based on the grounds of a rigorous economic analysis, Tamassia’s reading reflected a deliberate attempt to make Steuart’s thought compatible with an economic and political culture centred on the defence of freedom. (shrink)

The principle of subsidiarity can be an effective tool for adjusting economic systems and establishing the social rule-of-law concept in public organisation. In considering the usability of the principle of subsidiarity, the following aspects thereof are discussed: the role in the development of the European social model; employment in determining limits for the powers of the public and private sectors; the application in the market and planned economy systems; and the social justice function in the development of (...) a social welfare state. The principle of subsidiarity as an instrument for individuals’ interests, balancing and adjusting in the regulation of economic systems, helps to establish the relative sizes of public policy and the market, as subsidiarity can help ensure a more equitable distribution of public goods while guaranteeing the maintenance of the creative potency of operators and minimal satisfaction of vital needs of individuals unable to contribute to the production of goods. It amounts to a constitutional measure determining the balance of productive and protective state, thus ensuring the stability of the state organisation. In the concept of a social rule-of-law state, subsidiarity draws clear limits to the state’s powers, institutionally bringing together efforts of all members of the community to achieve welfare in the state. (shrink)

Some meritocratic defenders of capitalism rely on the principle that cooperators should receive a share of the product commensurate with their contribution. However, such defences of capitalism fail due to a dilemma. Either they rely on an understanding of contribution that arguably will be reflected by the capital-labour split in suitably idealized capitalist economies, but cannot serve as a plausible standard of merit; or they rely on an interpretation of contribution that is a plausible standard of merit, but which (...) won’t tend to be reflected by the capital-labour split in capitalist economies. (shrink)

With a new foreword by Paul Kelly 'I regard Hayek's work as a new opening of the most fundamental debate in the field of political philosophy' - Sir Karl Popper 'This promises to be the crowning work of a scholar who has devoted a lifetime to thinking about society and its values. The entire work must surely amount to an immense contribution to social and legal philosophy' - Philosophical Studies Law, Legislation and Liberty is Hayek's major statement of political philosophy (...) and one of the most ambitious yet subtle defences of a free market society ever written. A robust defence of individual liberty, it is also crucial for understanding Hayek's influential views concerning the role of the state: far from being an innocent bystander, he argues that the state has an important role to play in defending the norms and practices of an ordered and free society. His arguments had a profound influence on the policies of Thatcher in the 1980s and resonate today in visions of the 'Big Society'. First published in three separate volumes, this Routledge Classics edition makes one of his most important books available in a single volume. Essential reading for understanding the background to the recent world economic turmoil and financial crisis, it also foreshadows the subsequent heated debate about regulation and political governance if such disasters are to be avoided in the future. (shrink)

One major theme in Pope Benedict XVI’s encyclical Caritas in Veritate is the “Principle of Gratuitousness.” The point of this essay is to begin a reflection on what it actually means and its possible relevance. By comparing the “Principle of Gratuitousness” and its normative assumptions about “the logic of gift” with anthropological studies focused on the same phenomenon, I hope to show, not only the relevance of the encyclical’s normative vision but also where and how it needs further (...) clarification. The findings of empirical anthropology provide qualified support for the encyclical’s focus on generating and replenishing “social capital” in order to sustain both markets and politics in an effort to “civilize the economy.” In order to put the “Principle of Gratuitousness” into more effective practice, the encyclical highlights the creative role of “civil society” and calls for the creation social enterprises whose goals are broader and deeper than maximizing profits. Assessing the realism of Benedict’s proposal will require further research and reflection on innovative entrepreneurial ventures designed to address social problems on a commercial basis, for example, Muhammad Yunus’ concept of a “social business” and its development in a series of joint business ventures involving the Grameen Bank and related organizations. (shrink)

This paper addresses the following questions: what is Fichte’s first principle of right, how does he argue for it, and how does it function as the first principle of his substantive political theory? To answer these questions, the paper offers an overview of the main steps of Fichte’s derivation of the principle of right, explains its relationship to Fichte’s account of individual personhood, and then specifies some of the senses in which the resulting principle serves as (...) the foundation of the rest of Fichte’s political and economic theory. I focus on the developmental logic of Fichte’s account of the “summons” and the “relation of right.” This developmental logic, I argue, is both recapitulated and completed within Fichte’s political theory and political economy. (shrink)

Paul Horwich has claimed that we can derive a certain form of the principle of compositionality from a deflationary account of what it is to understand a complex expression. If this were the case, we would realize a surprising theoretical economy, and if the derivation involved basic ideas from a use theory of meaning, we would have a novel argument for use theories of meaning. Horwich does not offer a detailed derivation. In this paper I reconstruct a possible (...) derivation and show that it begs the question. I then extend my discussion to explain why it is unlikely that alternative arguments can fare better. (shrink)

Previous chapter At the end of the 19th century, the University of Leipzig became a kind of Mecca for the theory of rhythm. Wundt had been offered a position as soon as 1875 and had opened in 1879 his laboratory of experimental psychology, the head of which he remained until his retirement in 1917. Meumann accepted a position at the University of Zürich in 1895 but stayed in close connection with his alma mater. Schmarsow was promoted at Leipzig in 1893 (...) - Économie et Marxisme – Nouvel article. (shrink)