The laws and conditions of the production of wealth partake of the character of physical truths. There is nothing optional or arbitrary in them ... It is not so with the Distribution of Wealth. That is a matter of human institution solely. The things once there, mankind, individually or collectively, can do with them as they like.
Interpretation
Wealth production follows natural laws, while wealth distribution is determined by human choices and institutions.
In this quote, John Stuart Mill emphasizes that the creation of wealth is governed by objective physical laws, implying that it operates within a framework of unchangeable truths. However, he contrasts this with the distribution of wealth, which is a flexible and subjective process, shaped by societal norms, values, and human decisions. This distinction highlights the difference between how wealth is generated and how it is allocated among people.
In practice
In a discussion about economic policies, one might cite Mill's quote to illustrate the contrast between natural and human-made systems.
The peculiar evil of silencing the expression of an opinion is, that it is robbing the human race; posterity as well as the existing generation; those who dissent from the opinion, still more than those who hold it. If the opinion is right, they are deprived of the opportunity of exchanging error for truth: if wrong, they lose, what is almost as great a benefit, the clearer perception and livelier impression of truth, produced by its collision with error.
As for charity, it is a matter in which the immediate effect on the persons directly concerned, and the ultimate consequence to the general good, are apt to be at complete war with one another.
To think that because those who wield power in society wield in the end that of government, therefore it is of no use to attempt to influence the constitution of the government by acting on opinion, is to forget that opinion is itself one of the greatest active social forces. One person with a belief is a social power equal to ninety-nine who have only interests.
There should be perfect freedom, legal and social, to do the action and stand the consequences. It would be a great misunderstanding of this doctrine to suppose that it is one of selfish indifference, which pretends that human beings have no business with each other's conduct in life, and that they should not concern themselves about the well-doing or well-being of one another, unless their own interest is involved.
Political Economy, in truth, has never pretended to give advice to mankind with no lights but its own; though people who knew nothing but political economy (and therefore knew it ill) have taken upon themselves to advise, and could only do so by such lights as they had.
Marriage is the only actual bondage known to our law. There remain no legal slaves, except the mistress of every house.
The first step to prescribing the right medicine is to recognize the cause of the illness. And, when it comes to what is ailing the global economy, extreme monetary easing has been more cause than cure. The sooner we recognize that, the stronger and more sustainable the global economic recovery will be.
China's government has far more control over the country's economy than our government has over ours, and it is moving from export dependence to a model of growth driven by domestic demand. Any restriction on exports to the U.S. would simply accelerate a process already underway.
Women are the engine driving the growth in California's economy. Women make California's economy unique.
When people begin anticipating inflation, it doesn't do you any good anymore, because any benefit of inflation comes from the fact that you do better than you thought you were going to do.
Higher taxes never reduce the deficit. Governments spend whatever they take in and then whatever they can get away with.
There is no easy fix or youth unemployment. Partnership between the public and private sectors can make a big difference.
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