A DILEMMA OF ECONOMICS: JOHN STUART MILL AND MORAL THEORY FROM AXIS OF ETHICS AND UTILITARIANISM IN ENGLISH THOUGHT
Abstract
John Mill, who lived in a period when classical sense of economy lost its popularity and socialistic thought came up, was influenced by Ricardo’s economy principles and Bentham’s utility theory. He defended demanding parts to be included in analysis of international trade; reconsidered dividing relations and put forward wage fund theory. He studied on value theory and rebuilt it according to various product groups. As Mill, who emphasized “static –dynamic” analysis aspect of the economic studies for the first time, was influenced by socialistic ideology, he gave opinions for curtesy and reversion
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