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applications¡¡to¡¡social¡¡philosophy
by¡¡John¡¡Stuart¡¡Mill
Preliminary¡¡Remarks
¡¡¡¡¡¡¡¡In¡¡every¡¡department¡¡of¡¡human¡¡affairs£»¡¡Practice¡¡long¡¡precedes
Science¡¡systematic¡¡enquiry¡¡into¡¡the¡¡modes¡¡of¡¡action¡¡of¡¡the¡¡powers
of¡¡nature£»¡¡is¡¡the¡¡tardy¡¡product¡¡of¡¡a¡¡long¡¡course¡¡of¡¡efforts¡¡to
use¡¡those¡¡powers¡¡for¡¡practical¡¡ends¡£¡¡The¡¡conception£»¡¡accordingly£»
of¡¡Political¡¡Economy¡¡as¡¡a¡¡branch¡¡of¡¡science¡¡is¡¡extremely¡¡modern£»
but¡¡the¡¡subject¡¡with¡¡which¡¡its¡¡enquiries¡¡are¡¡conversant¡¡has¡¡in
all¡¡ages¡¡necessarily¡¡constituted¡¡one¡¡of¡¡the¡¡chief¡¡practical
interests¡¡of¡¡mankind£»¡¡and£»¡¡in¡¡some£»¡¡a¡¡most¡¡unduly¡¡engrossing¡¡one¡£
¡¡¡¡¡¡¡¡That¡¡subject¡¡is¡¡Wealth¡£¡¡Writers¡¡on¡¡Political¡¡Economy¡¡profess
to¡¡teach£»¡¡or¡¡to¡¡investigate£»¡¡the¡¡nature¡¡of¡¡Wealth£»¡¡and¡¡the¡¡laws
of¡¡its¡¡production¡¡and¡¡distribution£º¡¡including£»¡¡directly¡¡or
remotely£»¡¡the¡¡operation¡¡of¡¡all¡¡the¡¡causes¡¡by¡¡which¡¡the¡¡condition
of¡¡mankind£»¡¡or¡¡of¡¡any¡¡society¡¡of¡¡human¡¡beings£»¡¡in¡¡respect¡¡to¡¡this
universal¡¡object¡¡of¡¡human¡¡desire£»¡¡is¡¡made¡¡prosperous¡¡or¡¡the
reverse¡£¡¡Not¡¡that¡¡any¡¡treatise¡¡on¡¡Political¡¡Economy¡¡can¡¡discuss
or¡¡even¡¡enumerate¡¡all¡¡these¡¡causes£»¡¡but¡¡it¡¡undertakes¡¡to¡¡set
forth¡¡as¡¡much¡¡as¡¡is¡¡known¡¡of¡¡the¡¡laws¡¡and¡¡principles¡¡according¡¡to
which¡¡they¡¡operate¡£
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thing¡¡to¡¡be¡¡rich£»¡¡another¡¡thing¡¡to¡¡be¡¡enlightened£»¡¡brave£»¡¡or
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it¡¡is¡¡made¡¡free£»¡¡or¡¡virtuous£»¡¡or¡¡eminent¡¡in¡¡literature£»¡¡in¡¡the
fine¡¡arts£»¡¡in¡¡arms£»¡¡or¡¡in¡¡polity£»¡¡are¡¡totally¡¡distinct¡¡enquiries¡£
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upon¡¡one¡¡another¡£¡¡A¡¡people¡¡has¡¡sometimes¡¡become¡¡free£»¡¡because¡¡it
had¡¡first¡¡grown¡¡wealthy£»¡¡or¡¡wealthy£»¡¡because¡¡it¡¡had¡¡first¡¡become
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economical¡¡condition£»¡¡and¡¡this¡¡again£»¡¡by¡¡its¡¡influence¡¡on¡¡their
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are¡¡essentially¡¡different£»¡¡and¡¡have¡¡never¡¡been¡¡supposed¡¡to¡¡be
otherwise¡£
¡¡¡¡¡¡¡¡It¡¡is¡¡no¡¡part¡¡of¡¡the¡¡design¡¡of¡¡this¡¡treatise¡¡to¡¡aim¡¡at
metaphysical¡¡nicety¡¡of¡¡definition£»¡¡where¡¡the¡¡ideas¡¡suggested¡¡by¡¡a
term¡¡are¡¡already¡¡as¡¡determinate¡¡as¡¡practical¡¡purposes¡¡require¡£
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question£»¡¡what¡¡is¡¡to¡¡be¡¡considered¡¡as¡¡weaLth£»¡¡it¡¡is¡¡matter¡¡of
history£»¡¡that¡¡such¡¡confusion¡¡of¡¡ideas¡¡has¡¡existed¡that¡¡theorists
and¡¡practical¡¡poLiticians¡¡have¡¡been¡¡equally¡¡and¡¡at¡¡one¡¡period
universally£»¡¡infected¡¡by¡¡it£»¡¡and¡¡that¡¡for¡¡many¡¡generations¡¡it
gave¡¡a¡¡thoroughly¡¡faLse¡¡direction¡¡to¡¡the¡¡policy¡¡of¡¡Europe¡£¡¡I
refer¡¡to¡¡the¡¡set¡¡of¡¡doctrines¡¡designated£»¡¡since¡¡the¡¡time¡¡of¡¡Adam
Smith£»¡¡by¡¡the¡¡appellation¡¡of¡¡the¡¡Mercantile¡¡System¡£
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already¡¡in¡¡the¡¡state¡¡of¡¡money£»¡¡are¡¡capable¡¡of¡¡being¡¡directly
converted¡¡into¡¡it¡£¡¡According¡¡to¡¡the¡¡doctrines¡¡then¡¡prevalent£»
whatever¡¡tended¡¡to¡¡heap¡¡up¡¡money¡¡or¡¡bullion¡¡in¡¡a¡¡country¡¡added¡¡to
its¡¡wealth¡£¡¡Whatever¡¡sent¡¡the¡¡precious¡¡metals¡¡out¡¡of¡¡a¡¡country
impoverished¡¡it¡£¡¡If¡¡a¡¡country¡¡possessed¡¡no¡¡gold¡¡or¡¡silver¡¡mines£»
the¡¡only¡¡industry¡¡by¡¡which¡¡it¡¡could¡¡be¡¡enriched¡¡was¡¡foreign
trade£»¡¡being¡¡the¡¡only¡¡one¡¡which¡¡could¡¡bring¡¡in¡¡money¡£¡¡Any¡¡branch
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another¡¡shape£»¡¡was¡¡looked¡¡upon¡¡as¡¡a¡¡losing¡¡trade¡£¡¡Exportation¡¡of
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imported£»¡¡unless¡¡they¡¡were¡¡brought¡¡in¡¡to¡¡be¡¡re¡exported¡¡at¡¡a
profit£»¡¡or¡¡unless£»¡¡being¡¡the¡¡materials¡¡or¡¡instruments¡¡of¡¡some
industry¡¡practised¡¡in¡¡the¡¡country¡¡itself£»¡¡they¡¡gave¡¡the¡¡power¡¡of
producing¡¡exportable¡¡articles¡¡at¡¡smaller¡¡cost£»¡¡and¡¡thereby
effecting¡¡a¡¡larger¡¡exportation¡£¡¡The¡¡commerce¡¡of¡¡the¡¡world¡¡was
looked¡¡upon¡¡as¡¡a¡¡struggle¡¡among¡¡nations£»¡¡which¡¡could¡¡draw¡¡to
itself¡¡the¡¡largest¡¡share¡¡of¡¡the¡¡gold¡¡and¡¡silver¡¡in¡¡existence£»¡¡and
in¡¡this¡¡competition¡¡no¡¡nation¡¡could¡¡gain¡¡anything£»¡¡except¡¡by
making¡¡others¡¡lose¡¡as¡¡much£»¡¡or£»¡¡at¡¡the¡¡least£»¡¡preventing¡¡them
from¡¡gaining¡¡it¡£
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mankind¡a¡¡belief¡¡from¡¡which¡¡no¡¡one¡¡was£»¡¡nor¡¡without¡¡an
extraordinary¡¡effort¡¡of¡¡genius¡¡and¡¡courage£»¡¡could¡¡at¡¡that¡¡time¡¡be
free¡becomes¡¡to¡¡a¡¡subsequent¡¡age¡¡so¡¡palpable¡¡an¡¡absurdity£»¡¡that
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have¡¡appeared¡¡credible¡£¡¡It¡¡has¡¡so¡¡happened¡¡with¡¡the¡¡doctrine¡¡that
money¡¡is¡¡synonymous¡¡with¡¡wealth¡£¡¡The¡¡conceit¡¡seems¡¡too
preposterous¡¡to¡¡be¡¡thought¡¡of¡¡as¡¡a¡¡serious¡¡opinion¡£¡¡It¡¡looks¡¡like
one¡¡of¡¡the¡¡crude¡¡fancies¡¡of¡¡childhood£»¡¡instantly¡¡corrected¡¡by¡¡a
word¡¡from¡¡any¡¡grown¡¡person¡£¡¡But¡¡let¡¡no¡¡one¡¡feel¡¡confident¡¡that¡¡he
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it¡¡prevailed¡£¡¡All¡¡the¡¡associations¡¡engendered¡¡by¡¡common¡¡life£»¡¡and
by¡¡the¡¡ordinary¡¡course¡¡of¡¡business£»¡¡concurred¡¡in¡¡promoting¡¡it¡£¡¡So
Long¡¡as¡¡those¡¡associations¡¡were¡¡the¡¡only¡¡medium¡¡through¡¡which¡¡the
subject¡¡was¡¡looked¡¡at£»¡¡what¡¡we¡¡now¡¡think¡¡so¡¡gross¡¡an¡¡absurdity
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one¡¡was¡¡likely¡¡to¡¡think¡¡of¡¡questioning¡¡it¡¡whose¡¡mind¡¡had¡¡not
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contemplating¡¡economical¡¡phenomena£»¡¡which¡¡have¡¡only¡¡found¡¡their
way¡¡into¡¡the¡¡general¡¡understanding¡¡through¡¡the¡¡influence¡¡of¡¡Adam
Smith¡¡and¡¡of¡¡his¡¡expositors¡£
¡¡¡¡¡¡¡¡In¡¡common¡¡discourse£»¡¡wealth¡¡is¡¡always¡¡expressed¡¡in¡¡money¡£¡¡If
you¡¡ask¡¡how¡¡rich¡¡a¡¡person¡¡is£»¡¡you¡¡are¡¡answered¡¡that¡¡he¡¡has¡¡so
many¡¡thousand¡¡pounds¡£¡¡All¡¡income¡¡and¡¡expenditure£»¡¡all¡¡gains¡¡and
losses£»¡¡everything¡¡by¡¡which¡¡one¡¡becomes¡¡richer¡¡or¡¡poorer£»¡¡are
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true¡¡that¡¡in¡¡the¡¡inventory¡¡of¡¡a¡¡person's¡¡fortune¡¡are¡¡included£»
not¡¡only¡¡the¡¡money¡¡in¡¡his¡¡actual¡¡possession£»¡¡or¡¡due¡¡to¡¡him£»¡¡but
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same¡£¡¡It¡¡is¡¡true£»¡¡also£»¡¡that¡¡people¡¡do¡¡not¡¡grow¡¡rich¡¡by¡¡keeping
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to¡¡a¡¡value¡¡equivalent£»¡¡which¡¡are¡¡set¡¡off¡¡against¡¡those¡¡he¡¡sold¡£
But¡¡he¡¡accepted¡¡these¡¡at¡¡a¡¡money¡¡valuation£»¡¡and¡¡in¡¡the¡¡belief
that¡¡they¡¡would¡¡bring¡¡in¡¡more¡¡money¡¡eventually¡¡than¡¡the¡¡price¡¡at
which¡¡they¡¡were¡¡made¡¡over¡¡to¡¡him¡£¡¡A¡¡dealer¡¡doing¡¡a¡¡large¡¡amount
of¡¡business£»¡¡and¡¡turning¡¡over¡¡his¡¡capital¡¡rapidly£»¡¡has¡¡but¡¡a
small¡¡portion¡¡of¡¡it¡¡in¡¡ready¡¡money¡¡at¡¡any¡¡one¡¡time¡£¡¡But¡¡he¡¡only
feels¡¡it¡¡valuable¡¡to¡¡him¡¡as¡¡it¡¡is¡¡convertible¡¡into¡¡money£º¡¡he
considers¡¡no¡¡transaction¡¡closed¡¡until¡¡the¡¡net¡¡result¡¡is¡¡either
paid¡¡or¡¡credited¡¡in¡¡money¡£¡£¡¡when¡¡he