John Stuart Mill; His Life and Works - Twelve Sketches by Herbert Spencer, Henry Fawcett, Frederic Harrison, and Other Distinguished Authors by Unknown
page 58 of 81 (71%)
page 58 of 81 (71%)
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developments--even though we understand that term in its largest
sense--of any previous writer. No one can have studied political economy in the works of its earlier cultivators without being struck with the dreariness of the outlook which, in the main, it discloses for the human race. It seems to have been Ricardo's deliberate opinion, that a substantial improvement in the condition of the mass of mankind was impossible. He considered it as the normal state of things that wages should be at the _minimum_ requisite to support the laborer in physical health and strength, and to enable him to bring up a family large enough to supply the wants of the labor-market. A temporary improvement indeed, as the consequence of expanding commerce and growing capital, he saw that there might be; but he held that the force of the principle of population was always powerful enough so to augment the supply of labor as to bring wages ever again down to the _minimum_ point. So completely had this belief become a fixed idea in Ricardo's mind, that he confidently drew from it the consequence, that in no case could taxation fall on the laborer, since--living, as a normal state of things, on the lowest possible stipend adequate to maintain him and his family--he would inevitably, he argued, transfer the burden to his employer; and a tax nominally on wages would in the result become invariably a tax upon profits. On this point Mill's doctrine leads to conclusions directly opposed to Ricardo's, and to those of most preceding economists. And it will illustrate his position as a thinker, in relation to them, if we note how this result was obtained. Mill neither denied the premises nor disputed the logic of Ricardo's argument: he accepted both; and in particular he recognized fully the force of the principle of population; but he took account of a further premise which Ricardo had overlooked, and which, duly weighed, led to a reversal of Ricardo's conclusion. The _minimum_ of wages, even such as it exists in the case of the worst-paid |
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