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J. S. Mill's Methodology of Political Economy
[Metodologie politické ekonomie podle J. S. Milla]

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  • Marek Hudík

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.

Suggested Citation

  • Marek Hudík, 2007. "J. S. Mill's Methodology of Political Economy [Metodologie politické ekonomie podle J. S. Milla]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2007(5), pages 109-123.
    • Handle: RePEc:prg:jnlaop:v:2007:y:2007:i:5:id:88:p:109-123
    DOI: 10.18267/j.aop.88
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    References listed on IDEAS

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    1. Stigler, George J., 2011. "Economics of Information," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 5, pages 35-49.
    2. Joseph Persky, 1995. "The Ethology of Homo Economicus," Journal of Economic Perspectives, American Economic Association, vol. 9(2), pages 221-231, Spring.
    3. Hirshleifer, Jack, 1977. "Economics from a Biological Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 20(1), pages 1-52, April.
    4. Hirshleifer, J, 1978. "Competition, Cooperation, and Conflict in Economics and Biology," American Economic Review, American Economic Association, vol. 68(2), pages 238-243, May.
    5. repec:ucp:bkecon:9780226320625 is not listed on IDEAS
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    More about this item

    Keywords

    J. S. Mill; Methodology; Homo oeconomicus;
    All these keywords.

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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