large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb_33
large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb
English
11381
The increasing interest in social questions, and the general lack of economic training, which prevents a right estimate of his reasoning by people in general, sufficiently account for the wide attention he has received. THE INCREASING INTEREST IN SOCIAL QUESTIONS AND THE GENERAL LACK OF ECONOMIC TRAINING WHICH PREVENTS A RIGHT ESTIMATE OF HIS REASONING BY PEOPLE IN GENERAL SUFFICIENTLY ACCOUNT FOR THE WIDE ATTENTION HE HAS RECEIVED
 and Cairnes, and has done good work in the cause of sound money doctrines. Both General Walker and Professor Sumner hold to the method of economic investigation as expounded by Mr. Cairnes; although several younger economists show the influence of the German school. Professor A. L. Perry,(98) of Williams College, adopted Bastiat’s theory of value. He also accepts the wages-fund theory, rejects the law of Malthus, and, although believing in the law of diminishing returns from land, regards rent as the reward for a service rendered. Another writer, Henry George,(99) has gained an abnormal prominence by a plausible book, “Progress and Poverty” (1880), which rejects the doctrine of Malthus, and argues that the increase of production of any kind augments the demand for land, and so raises its value. His conclusions lead him to advocate the nationalization of land. Although in opposition to almost all that political economy has yet produced, his writing has drawn to him very unusual notice. US WRITER IN THE SCHOOL OF MILL AND CAIRNS AND HAS DONE GOOD WORK IN THE CAUSE OF SOUND MONEY DOCTRINES BOTH GENERAL WALKER AND PROFESSOR SUMNER HOLD ON THE METHOD OF ECONOMIC INVESTIGATION AS EXPOUNDED BY MISTER KERNS ALTHOUGH SEVERAL YOUNGER ECONOMISTS SHOW THE INFLUENCE OF THE GERMAN SCHOOL PROFESSOR A L PERRY OF WILLIAM'S COLLEGE ADOPTED BASTA'S THEORY OF VALUE HE ALSO ACCEPTS THE WAGE FUN THEORY REJECTS THE LAW OF MALTHUS AND ALTHOUGH BELIEVING IN THE LAW OF DIMINISHING RETURNS FROM LAND REGARDS RENT AS THE REWARD FOR SERVICE RENDERED ANOTHER WRITER HENRY GEORGE HAS GAINED AN ABNORMAL PROMINENCE BY A PLAUSIBLE BOOK PROGRESS AND POVERTY EIGHTEEN EIGHTY WHICH REJECTS THE DOCTRINE OF MALTHUS AND ARGUES THAT THE INCREASE OF PRODUCTION OF ANY KIND AUGMENTS THE DEMAND FOR LAND AND SO RAISES ITS VALUE HIS CONCLUSIONS LED HIM TO ADVOCATE THE NATIONALIZATION OF LAND ALTHOUGH IN OPPOSITION TO ALMOST ALL THAT POLITICAL ECONOMY HAS YET PRODUCED HIS WRITING HAS DRAWN HIM TO VERY UNUSUAL NOTICE
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