ABSTRACT
This chapter provides important insights into the evolution of the views of their author on economic and social problems. John Stuart Mill's Principles of Political Economy is one of the great synthetic works of Classical economics; anything which throws light on its propositions and their development is therefore of considerable historical importance. The views of the author of On Liberty on any aspect of social and economic policy have still great significance at this stage of human history. The chapter considers General Economic Theory; Money and Banking; Public Finance; Labour; Property and Its Social Control; and Socialism. The retractation of belief in the existence of a determinate wages fund caused some sensation at the time of its appearance, and held to be one of the influences bringing about the end of the ascendancy of Classical theory in Great Britain. Mill's socialism proves to be much more like non-revolutionary syndicalism than anything which would be called socialism at the present day.
