John Stuart Mill and Ricardo made a sort of logic of political economy; in order to simplify their processes, they deliberately stripped man of all motives save self-interest alone, and the result was evidently ‘doctrinaire’--was not a picture of life, but a theorem of trade.
Woodrow Wilson: “John Stuart Mill and Ricardo made a sort of logic of political economy; in order to simplify their processes, they…”
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gutenberg.orgEditor's note · Context
Wilson critiques the reductionist approach of early economists who oversimplified human motives to self-interest.
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