The World's Greatest Books — Volume 14 — Philosophy and Economics

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Gutenberg ID

25009

Title

The World's Greatest Books — Volume 14 — Philosophy and Economics

Language

en

Book source

Project Gutenberg

Description max 80 words

This volume compiles seminal essays on philosophy and economics, featuring foundational texts by Hegel, Mill, Marx, and others. It explores the evolution of human thought from Eastern despotism to modern political economy, offering profound insights into history, wealth, and societal progress.

Summary up to 500 words

Volume 14 of *The World's Greatest Books* presents a profound synthesis of historical dialectics and economic theory, exploring the intellectual foundations of modern society through the works of Hegel, Marx, and John Stuart Mill. The volume opens with Hegel's *The Philosophy of History*, which traces the evolution of human consciousness from the 'childhood' of Eastern despotism to the 'maturity' of the Germanic spirit. Hegel argues that history progresses from the East, where freedom was singular, through the 'adolescence' of Greek individuality and Roman abstract universality, culminating in the realization of universal freedom in the West. He posits that the world's history moves from Asia to Europe, marking a transition from unreflected consciousness to a fully developed subjective freedom. The collection then transitions to economics with excerpts from Karl Marx on surplus value and capital accumulation. Marx illustrates how capitalist production incessantly converts material wealth into capital, reproducing the relationship between the capitalist and the wage-laborer. He details how the capitalist appropriates surplus value, while the laborer remains a source of wealth without the means to own it. This process perpetuates the condition of exploitation, where the worker produces the very capital that commands their labor. John Stuart Mill's *Principles of Political Economy* follows, offering a rigorous examination of wealth and distribution. Mill defines wealth not merely as gold and silver, but as all useful or agreeable things possessing exchangeable value. He critiques the mercantile system's false belief that national wealth consists solely in precious metals, arguing instead that wealth stems from labor and natural agents. Mill distinguishes between constant capital (tools and materials) and variable capital (labor-power), explaining how the latter generates surplus value. He further analyzes the distribution of wealth among laborers, landlords, and capitalists, noting that wages are determined by the supply and demand for labor. Mill also addresses the historical shift from agriculture to manufactures and commerce, and the evolution of land tenure from slavery to secure farming. He argues that the natural order of development—where agriculture precedes manufactures and commerce—has often been inverted in modern Europe due to historical circumstances. Furthermore, Mill dismantles the 'agricultural system' that views land as the sole source of revenue, labeling it as fallacious. He concludes that the sovereign's duties require a military force, an administration of justice, and public works, funded by taxation that should be certain, convenient, and levied in proportion to the subjects' abilities. Together, these works provide a comprehensive framework for understanding the power dynamics, poverty, and human improvement within modern civilization.

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Categories

• Philosophy
• Economics