John Stuart Mill; His Life and Works: Twelve Sketches by Herbert Spencer, Henry Fawcett, Frederic Harrison, and Other Distinguished Authors
Philosophy
John Stuart Mill; His Life and Works: Twelve Sketches by Herbert Spencer, Henry Fawcett, Frederic Harrison, and Other Distinguished Authors
Mill, John Stuart, 1806-1873; Philosophers -- Great Britain -- Biography
I have just remarked that Mill's originality is less conspicuous in
relation to the economic theory of land than in other problems of
political economy, but the reader must not understand me from this to
say, that he has not very largely contributed to the elucidation of
this topic. He has indeed done so, though not, as is commonly
supposed, by setting aside principles established by his predecessors,
but, as his manner was, while accepting those principles, by
introducing a new premise into the argument. The new premise
introduced in this case was the influence of custom as modifying the
action of competition. The existence of an active competition, on the
one hand between farmers seeking farms, on the other between farming
and other modes of industry as offering inducements to the investment
of capital, is a constant assumption in the reasoning by which Ricardo
arrived at his theory of rent. Granting this assumption, it followed
that farmers as a rule would pay neither higher nor lower rents than
would leave them in possession of the average profits on their capital
current in the country. Mill fully acknowledged the force of this
reasoning, and accepted the conclusion as true wherever the conditions
assumed were realized; but he proceeded to point out, that, in point
of fact, the conditions are not realized over the greater portion of
the world, and, as a consequence, that the rent actually paid by the
cultivators to the owners of the soil by no means, as a general rule,
corresponds with that portion of the produce which Ricardo considered
as properly "rent." The real regulator of actual rent over the greater
part of the habitable globe was, he showed, not competition, but
custom; and he further pointed out that there are countries in which
the actual rent paid by the cultivators is governed neither by the
causes set forth by Ricardo, nor yet by custom, but by a third cause
different from either,--the absolute will of the owners of the soil,
controlled only by the physical exigencies of the cultivator, or by
the fear of his vengeance if disturbed in his holding. The recognition
of this state of things threw an entirely new light over the whole
problem of land-tenure, and plainly furnished grounds for legislative
interference in the contracts between landlords and tenants. Its
application to Ireland was obvious; and Mill himself, as the world
knows, did not hesitate to urge the application with all the energy
and enthusiasm which he invariably threw into every cause that he
espoused.
Public-domain text, read in full here on John Shaqi.
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