• ISBN13: 9788126915064
• Binding: Hardcover
• Subject: Economics
• Publisher: Atlantic Publishers & Distributors (P) Ltd
• Publisher Imprint: Atlantic
• Publication Date: June 22, 2011
• Pages: 792
• Original Price: INR 1395.0
• Language: English
• Edition: N/A
• Item Weight: 790 grams

John Stuart Mill’s Principles of Political Economy was one of the most widely read of all books on economics in its period. Accepted as standard textbook for over 150 years, the book systematically demonstrates how the important economic concepts can be applied to real-world situations. Shifting focus to realism, Mill took economics out of the realm of the abstract and placed it within the context of society. The objective of the book as Mill himself stated was “to unite the greatest individual liberty of action, with a common ownership of the raw material of the globe, and an equal participation of all in the benefits of combined labour”. Mill intended the book to be a survey of contemporary economic thought as well as an exploration of application of economic ideas to social concerns. Greatly influenced by the works of David Ricardo, taking some ideas from Adam Smith and Thomas Malthus, J.S. Mill was able to weave together the diverse elements of classical economics into a unified body of doctrines, and in doing so he demonstrated his brilliance as a thinker and writer. The text is divided into five books; first three are more technical books on production, distribution and exchange, while the last two deal with the influences of societal progress and the government on economic activity. Mill’s recommendations for the economic organization of society were based on how institutions, laws and practices impacted the well-being of the individuals. This reprint of the book, with a comprehensive scholarly Introduction by Prof R.N. Ghosh of the University of Western Australia, has been brought to help the students, teachers and researchers of economics in their academic pursuits.

John Stuart Mill (1806-1873), one of the most liberal thinkers of 19th century, was the son of Ricardian economist, James Mill. He deeply influenced the shape of the British thought and political discourse of his time. His precepts are of continuing significance and are widely recognized as the most effective defence of a liberal political view of society. The influence of J.S. Mill extended far beyond his role as an economic theorist. He was primarily a philosopher and social reformer. As an ardent supporter of individual liberty and economic freedom, he contributed immensely to the growth of liberalism in England. The substantial corpus of Mill’s works includes texts in economics, socio-political philosophy, ethics and epistemology. Among his most well-known books are A System of Logic, Utilitarianism, On Liberty, The Subjection of Women, Three Essays on Religion and his Autobiography. R.N. Ghosh is currently a Senior Honorary Research Fellow at the University of Western Australia in Perth, Australia. He is a specialist in the history of economic thought. In recent years he has also published on topics relating to a wide range of development issues such as good governance, corruption, gender issues, the environment, and the role of tourism in economic change. He is the current chairman of the International Institute for Development Studies (IIDS-Australia). Professor Ghosh has recently published with Atlantic Publishers and Distributors (P) Ltd., South Asian reprints of (i) Adam Smith’s An Inquiry into the Nature and Causes of the Wealth of Nations, 2 Vols.; (ii) J.M. Keynes’ General Theory of Employment, Interest and Money; and (iii) David Ricardo’s The Principles of Political Economy and Taxation. A prolific writer, he has contributed papers in a wide range of scholarly international journals.

• Volume II

• Book III
• Exchange
• 1. Of Value
• 2. Of Demand and Supply, in Their Relation to Value
• 3. Of Cost of Production, in Its Relation to Value
• 4. Ultimate Analysis of Cost of Production
• 5. Of Rent, in Its Relation to Value
• 6. Summary of the Theory of Value
• 7. Of Money
• 8. Of the Value of Money, as Dependent on Demand and Supply
• 9. Of the Value of Money, as Dependent on Cost of Production
• 10. Of a Double Standard, and Subsidiary Coins
• 11. Of Credit, as a Substitute for Money
• 12. Influence of Credit on Prices
• 13. Of an Inconvertible Paper Currency
• 14. Of Excess of Supply
• 15. Of a Measure of Value
• 16. Of Some Peculiar Cases of Value
• 17. Of International Trade
• 18. Of International Values
• 19. Of Money, Considered as an Imported Commodity
• 20. Of the Foreign Exchanges
• 21. Of the Distribution of the Precious Metals Through the Commercial World
• 22. Influence of the Currency on the Exchanges and on Foreign Trade
• 23. Of the Rate of Interest
• 24. Of the Regulation of a Convertible Paper Currency
• 25. Of the Competition of Different Countries in the Same Market
• 26. Of Distribution, as Affected by Exchange
• Book IV
• Influence of the Progress of Society on Production and Distribution
• 1. General Characteristics of a Progressive State of Wealth
• 2. Influence of the Progress of Industry and Population on Values and Prices
• 3. Influence of the Progress of Industry and Population, on Rents, Profits, and Wages
• 4. Of the Tendency of Profits to a Minimum
• 5. Consequences of the Tendency of Profits to a Minimum
• 6. Of the Stationary State
• 7. On the Probable Futurity of the Labouring Classes
• Book V
• On the Influence of Government
• 1. Of the Functions of Government in General
• 2. On the General Principles of Taxation
• 3. Of Direct Taxes
• 4. Of Taxes on Commodities
• 5. Of Some Other Taxes
• 6. Comparison between Direct and Indirect Taxation
• 7. Of a National Debt
• 8. Of the Ordinary Functions of Government, Considered as to Their Economical Effects
• 9. The Same Subject Continued
• 10. Of Interferences of Government Grounded on Erroneous Theories
• 11. Of the Grounds and Limits of the Laisser-Faire or Non-Interference Principle
• Appendices
• Index