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John Stuart. Mill

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John Stuart. Mill 'Unlike the laws of production, those of distribution are ... but the abstinence of all the persons by whom the remuneration of the different ... – PowerPoint PPT presentation

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Title: John Stuart. Mill


1
John Stuart. Mill
2
  • Unlike the laws of production, those of
    distribution are partly of human institutions
    since the manner in which wealth is distributed
    in any given society depends on the statutes or
    usages therein obtaining..
  • Though governments have the power of deciding
    what institutions shall exist, they cannot
    arbitrarily determine how these institutions
    shall work.

3
  • But in our analysis of the requisites of
    production, we found that there is another
    necessary element in it besides labour. There is
    also capital and this being the result of
    abstinence, the produce, or its value, must be
    sufficient to remunerate, not only all the labour
    required, but the abstinence of all the persons
    by whom the remuneration of the different classes
    of labourers was advanced. The return for
    abstinence is profit.
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