he confidently drew from it the consequence, that
in no case could taxation fall on the laborer, since—living,
as a normal state of things, on the lowest possible
stipend adequate to maintain him and his family—he
would inevitably, he argued, transfer the burden to
his employer; and a tax nominally on wages would in
the result become invariably a tax upon profits.
On this point Mill’s doctrine leads to conclusions
directly opposed to Ricardo’s, and to those
of most preceding economists. And it will illustrate
his position as a thinker, in relation to them, if
we note how this result was obtained. Mill neither
denied the premises nor disputed the logic of Ricardo’s
argument: he accepted both; and in particular
he recognized fully the force of the principle of
population; but he took account of a further premise
which Ricardo had overlooked, and which, duly weighed,
led to a reversal of Ricardo’s conclusion.
The
minimum of wages, even such as it exists
in the case of the worst-paid laborer, is not the
very least sum that human nature can subsist upon:
it is something more than this; in the case of all
above the worst-paid class it is decidedly more.
The
minimum is, in truth, not a physical but
a moral
minimum, and as such, is capable of
being altered with the changes in the moral character
of those whom it affects. In a word, each class
has a certain standard of comfort below which it will
not consent to live, or at least to multiply,—a
standard, however, not fixed, but liable to modification
with the changing circumstances of society, and which,
in the case of a progressive community, is, in point
of fact, constantly rising, as moral and intellectual
influences are brought more and more effectually to
bear on the masses of the people. This was the
new premise brought by Mill to the elucidation of
the wages question; and it sufficed to change the
entire aspect of human life regarded from the point
of view of political economy. The practical deductions
made from it were set forth in the celebrated chapter
on “The Future of the Industrial Classes,”—a
chapter which it is no exaggeration to say places
a gulf between Mill and all who preceded him, and opens
an entirely new vista to economic speculation.
The doctrine of the science with which Mill’s
name has been most prominently associated within the
last few years is that which relates to the economic
nature of land, and the consequences to which this
should lead in practical legislation. It is very
commonly believed, that on this point Mill has started
aside from the beaten highway of economic thought,
and propounded views wholly at variance with those
generally entertained by orthodox economists.
No economist need be told that this is an entire mistake.
In truth, there is no portion of the economic field
in which Mill’s originality is less conspicuous
than in that which deals with the land. His assertion
of the peculiar nature of landed property, and again