J. S. Mill's Methodology of Political Economy

Metodologie politické ekonomie podle J. S. Milla

Marek Hudik

Acta Oeconomica Pragensia, 2007, vol. 2007, issue 5, 109-123

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.

Keywords: J. S. Mill; Methodology; Homo oeconomicus (search for similar items in EconPapers)
JEL-codes: B31 B41 (search for similar items in EconPapers)
Date: 2007
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DOI: 10.18267/j.aop.88

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