JOHN STUART MILL (1806-1873)

PRINCIPLES OF POLITICAL ECONOMY (1848)

1. The factors of production were LABOR and NATURAL RECOURCES.
2. LABOR was both bodily labor and mental labor.
3. NATURAL RESOURCES included not only materials that are produced but also the creative power to produce or fashion 

them.
4. Men have acquired a command over natural forces more poewrful than themselves. A power that is destined to become 

greater.
5. The labor of the SAVANT is speculative thinking and inventions are the products of many theoretic discoveries.
6. IN THE ESSAY ON LIBERTY (1859) Mill discusses the nature and limites of power of society may legitimately 

exercise over the individual.
7. The most significant event in human history is the struggle between LIBERTY and AUTHORITY.
8. TO PROTECT AND EXPAND human liberty people tried to set limits to the authority of the rulers over the people. a) 

by obtaining recognition of basic political liberties or rights. b) by introducting constitutional checks by which 

the consent of the citizens was made a necessary condition for the excertise of governmental authority.
9. These limitations DEFINE the essence of LIBERTY.