body of knowledge,—have been the work of
Mill. In Ricardo’s great work, the fundamental
doctrines of production, distribution, and exchange
have been laid down, but for the most part in mere
outline; so much so, that superficial students are
in general wholly unable to connect his statement
of principles with the facts, as we find them, of
industrial life. Hence we have innumerable “refutations
of Ricardo,”—almost invariably refutations
of the writers’ own misconceptions. In
Mill’s exposition, the connection between principles
and facts becomes clear and intelligible. The
conditions and modes of action are exhibited by which
human wants and desires—the motive powers
of industry—come to issue in the actual
phenomena of wealth, and political economy becomes
a system of doctrines susceptible of direct application
to human affairs. As an example, I may refer
to Mill’s development of Ricardo’s doctrine
of foreign trade. In Ricardo’s pages, the
fundamental principles of that department of exchange
are indeed laid down with a master’s hand; but
for the majority of readers they have little relation
to the actual commerce of the world. Turn to
Mill, and all becomes clear. Principles of the
most abstract kind are translated into concrete language,
and brought to explain familiar facts; and this result
is achieved, not simply or chiefly by virtue of mere
lucidity of exposition, but through the discovery
and exhibition of modifying conditions and links in
the chain of causes overlooked by Ricardo. It
was in his “Essays on Unsettled Questions in
Political Economy” that his views upon this
subject were first given to the world,—a
work of which M. Cherbuliez of Geneva speaks as “un
travail le plus important et le plus original dont
la science economique se soit enrichie depuis une vingtaine
d’annees.”
On some points, however, and these points of supreme
importance, the contributions of Mill to economic
science are very much more than 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