John Stuart Mill (1806-1873) originally wrote the
Principles of Political Economy, with some of their Applications to Social Philosophy very quickly, having studied economics under the rigorous tutelage of his father, James, since his youth. It was published in 1848 (London: John W. Parker, West Strand) and was republished with changes and updates a total of seven times in Mill’s lifetime.The edition presented here is that prepared by W. J. Ashley in 1909, based on Mill’s 7th edition, 1870. Ashley followed the 7th edition with great care, noting changes in the editions in footnotes and in occasional square brackets within the text. The text provides English translations to several lengthy quotations originally quoted by Mill in French. Ashley selected these from an 1865 “People’s Edition” of the
Principles, but left in those quotations that had been omitted in that edition. He also prepared a useful
Bibliographical Appendix, with additional readings and excerpts from some of Mill’s later writings, which we also include in this Econlib Edition. More on Mill’s life and works, as well as details of Ashley’s procedure, can be found in his
Introduction.A few corrections of obvious typos were made for this website edition. However, because the original edition was so internally consistent and carefully proofread, we have erred on the side of caution, allowing some typos to remain lest someone doing academic research wishes to follow up. We have changed small caps to full caps for ease of using search engines.Internal references by page numbers have been replaced by linked paragraph reference numbers appropriate for this online edition. Paragraph references typically have three parts: the book, chapter, and paragraph. E.g.,
I.XI.15 refers to Book I, Chapter XI, paragraph 15.