The English Utilitarians, Volume 2 (of 3): James Mill — John Stuart Mill — John Shaqi
The English Utilitarians, Volume 2 (of 3): James Mill
John Stuart Mill · en
The postulates, however, were taken by the economists to represent
something more than approximate statements of the fact. They imply
certain propositions which might be regarded as axioms. Men desire
wealth and prefer their own interests. The whole theory might then be
regarded as a direct deduction from the axioms. It thus seemed to
have a kind of mathematical certainty. When facts failed to conform to
the theory the difficulty could be met by speaking, as Malthus spoke,
of 'tendencies,' or by appealing to the analogy of 'friction' in
mechanics. The excuse might be perfectly valid in some cases, but it
often sanctioned a serious error. It was assumed that the formula was
still absolutely true of something, and that the check or friction was
a really separable and accidental interference. Thus it became easy to
discard, as irrelevant, objections which really applied to the
principle itself, and to exaggerate the conformity between fact and
theory. The economic categories are supposed to state the essential
facts, and the qualifications necessary to make them accurate were apt
to slip out of sight. Ricardo,[338] to mention a familiar instance,
carefully points out that the 'economic rent,' which clearly
represents an important economic category, is not to be confounded, as
in 'popular' use, with the payments actually made, which often include
much that is really profit. The distinction, however, was constantly
forgotten, and the abstract formula summarily applied to the concrete
fact.