John Stuart Mill made a great contribution to the development of economic theory. His Principles of Political Economy was the leading treatise of the economic theory during the period when Marx was writing Das Kapital. In the following paper, I have my goal to observe the two primary ways Marx responded to Mill’s Principles of Political Economy. Comparing the general statement of Das Kapital and Principles of Political Economy it becomes evident that Marx and Mill have different views as to the accumulation of capital and thus regarding the social organization to share it between individuals.
The problem of primitive accumulation is of the main concern as to the origin of capital in accordance to Marx. Therefore it affects the differences between wealthy ones and non-possessors. The history of capital collection affected the organization of classes according to Marx. In his work, Das Kapital Marx explains that the era of capitalistic production reveals that capitalistic society’s organization is characterized by numerous blind passes. Coupled with social classes’ organization problems this also raises questions as to considerable flaws in the principle of capital accumulation. Marx made these conclusions examining such significant events from the history of humanity as the discovery of gold and silver in America, the conquest and plunder in India, and the conversion of the population of Africa into potential slaves for a western capitalistic society. He explains these events as primary moments of primitive accumulation (Marx 29). Further on Marx comments on Wakefield’s discovery in the Colonies as an event in history proving that capital is not a thing but rather is a social relation between the members of society. By Marx’s conclusions capital is established by “the instrumentality of things” (Marx 33).
Mill has a different outlook. He defines wealth as all the useful and worthy things which implicate exchangeable value. However, Marx objected to this statement pointing to the conflict between capital accumulation and the wealth of the commons. According to Marx on the other way round the contradictions between use value and exchange value were inherent to capitalist manufacturing. Marx based his evaluation of political economy around the contradiction between use-value and exchange value. Karl Marx establishes this as one of the key parts of his theory in Capital.
In addition, Marx had a different view on Mill’s position as to the distribution of wealth. Marx argues to distribute wealth equally, whereas Mill proves that equal distribution will destroy competition’s progress-motivating force. According to John Mill, the very significant error of Socialists is their perception of the natural indolence of mankind. They thus provoke the tendency of being passive, affected by habit, and having no special goals in life. As Mill explains this attitude to life will cause society to stop striving for progress and will lead to deterioration. Mill agrees that competition is probably not the best motivating force however it is necessary for progress (Mill 37).
In conclusion, it should be stated that Marx argues about Mill’s position as to the initial accumulation of capital stating that capital is rather a social relation between the members of society than all the useful and worthy things which implicate exchangeable value as Mill defines capital. The position of the initial capital accumulation is very important for a social organization of human society and its different forms such as socialism and capitalism.
Works Cited
Marx, K. Capital. London: Penguin, 1976. Print.
Mill, J. The Principles of Political Economy. London: Longmans, Green and Co, 1909. Print.