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J. S. Mill's Methodology of Political Economy

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  • Marek Hudík
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    Abstract

    The article deals with Mill's views on methodology. The place taken by political economy in the general classification of knowledge is shown. This includes: natural distinction between physical and moral sciences (including non-reducibility of mental phenomena to physical phenomena) and definition of political economy as a separate science. Further, the concept of economic man as introduced by Mill is presented. Two methods, which Mill saw as appropriate for studying social phenomena - i. e. concrete deductive method and inverse deductive method - are examined. Finally, marginalist reinterpretation of Mill's methodology is suggested. This reinterpretation retains the major features of Mill's approach.

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    Bibliographic Info

    Article provided by University of Economics, Prague in its journal Acta Oeconomica Pragensia.

    Volume (Year): 2007 (2007)
    Issue (Month): 5 ()
    Pages: 109-123

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    Handle: RePEc:prg:jnlaop:v:2007:y:2007:i:5:id:88:p:109-123

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    Keywords: methodology; J. S. Mill; Homo oeconomicus;

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