The change began with John Stuart Mill and the Utopians. When Mill pointed out that economics had no ultimate… — Robert Heilbroner
The change began with John Stuart Mill and the Utopians. When Mill pointed out that economics had no ultimate solution to the problem of distribution, that society might do with the fruits of its toil as it saw fit, he introduced into the mechanical calculus of the market a conflicting calculus of moral judgment.
p. 307Source: Wikiquote · CC BY-SA 4.0
More from this book
But while Ricardo, the economist, walked like a god (although he was a modest and retiring person), Malthus was relegated to a lower status.
p. 77
If an economy in the doldrums could drift indefinitely, the price of government inaction might be graver by far than the consequences of bold unorthodoxy.
p. 269
Very few of the heroes of the Golden Age of American finance had much interest in the solid realities of what underlay their structure of stocks and bonds and credits.
p. 224

