Acta Oeconomica Pragensia 2007, 15(5):109-123 | DOI: 10.18267/j.aop.88

J. S. Mill's Methodology of Political Economy

Marek Hudík
Ing. Marek Hudík - interní doktorand; Katedra ekonomie, Národohospodářská fakulta, Vysoká škola ekonomická v Praze. hudik@vse.cz

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.

Keywords: J. S. Mill, Methodology, Homo oeconomicus
JEL classification: B31, B41

Published: August 1, 2007  Show citation

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Hudík, M. (2007). J. S. Mill's Methodology of Political Economy. Acta Oeconomica Pragensia, 15(5), 109-123. doi: 10.18267/j.aop.88
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