University of Alberta Jeremy Bentham and the Theories of Intemational

Total Page:16

File Type:pdf, Size:1020Kb

Load more

University of Alberta Jeremy Bentham and the Theories of Intemational Relations BY Gunhild Elizabeth Birgitta Hoogensen O A thesis subrnitted to the Faculty of Graduate Studies and Research in partial fulfilimenr of the requirements for the degree of Doctor of Philosophy Department of Political Science Edmonton, Alberta Spring 2000 National Library Bibliothèque nationale 1*1 of Canada du Canada Acquisitions and Acquisitions et Bibliographic Services services bibliographiques 395 Weltington Street 395. rue Wellington Ottawa ON K1A ON4 Ottawa ON KlA ON4 Canada Canada The author has granted a non- L'auteur a accordé une licence non exclusive licence allowing the exclusive permettant à la National Libraty of Canada to Bibliothèque nationale du Canada de reproduce, loan, distri'bute or sell reproduire, prêter, distribuer ou copies of this thesis in microform, vendre des copies de cette thèse sous paper or electronic formats. la forme de microfiche/^ de reproduction sur papier ou sur format électronique. The author retains ownership of the L'auteur conserve la propriété du copyright in this thesis. Neither the droit d'auteur qui protège cette thèse. thesis nor substantial extracts ikom it Ni la thèse ni des extraits substantiels may be printed or otherwise de celle-ci ne doivent être imprimes reproduced without the author's ou autrement reproduits sans son permission. autorisation. To my family: Duane, Arne and Bmntë And to Allison, who sent me down this road . Abstract Jeremy Bentham's contribution to international relations theory has been grossly misunderstood. Using Bentham's original manuscripts in Universi~College London, his economic writings, and the recently edited Collected Worh of Jeremy Bentham, this dissertation argues that Bentham's work in international relations consists of far more than his alIeged essay "A Plan for an Universal and Perpetual Peace," and can only be understood with reference to bis disappointment-prevention principle, or security of expectation. Although Bentham's interest in international relations focused largely on international Iaw and the emancipation of colonies, he also wrote on other issues of peace and war. His work is often included in histories of international relations theory, but his contributions have been vastly underrated. His best-known essay, "A Plan for an Universal and Perpetual Peace" was never written by Bentham. It was a compilation of essays titled "Pacification and Ernancipation," "Colonies and Naky," and "Cabinet No Secrecy," used by the general editor of The Worh of Jeremy Bentham John Bowring. The title arose on the basis of an outline lefi by Bentham that suggested the title "Plan for an Universal and Perpetual Peace." This distortion of Bentham's work was itself misleading to numerous scholars endeavouring to understand his ideas, but most scholars never undertook the initiative to look at Bentham's other essays, especially his economic essays, to gain a sense of his important contributions to international political econorny. As a result, Bentham's ideas have been designated part of the liberal tradition of international relations theory. Bentham's ideas cannot be so easily categorized. A much better understanding of Bentham's many works in international relations can be obtained when applying Bentham's disappointment-prevenGon prXnciple. This pnnciple embodies Bentham's Iife-long concern for security, and his need to weigh al1 policy and action on the basis of how security would be affected. It is this principle that provides the foundation for Bentham's farnous principle of utility. This dissertation attempts to gather as much of Bentham's ideas on international relations together, and evaluate it in light of Bentham's concern for security. Acknowledgements 1would like «, acknowledge the support, assistance, and advice 1received at the Bentham Project, University College London, and I especially thank Dr. Philip Schofield and Dr. Fred Rosen. Dr. Allison Dube of Calgary was equally valuable, allowing me to borrolv materials as weli as discuss important facets of my argument. I would like to thank my father-in-law whose generosity enabied my family and I to travel to London so that I ma!. do my research. Many, many thanks go to my parents, Chris and Marga Hoogensen. who provided a great deal of support manifested in any number of ways. 1want to thank rny husband Duane, who ached under the burden of this dissertation almost as much as 1 did. and outwo children, Arne and Brontë. Arne now thinks writing chapters is a normal, everyday activity, and Brontë has fallen asleep in front of the cornputer more than 1 care to count. They have more patience than any four and two year olds on this planet. To my supervisor, Dr. Larry Pratt. who showed me what diligent and professional research is al1 about, and whom 1 consider a great friend, the words ?ha& you'? are pitifully inadequate. Nonetheless, thank you. Table of Contents 1. Introduction 1 II. Bentham's Manuscripts Versus the Published "Works" 30 III. Bentham and the Traditions of International Relations Theory 58 IV. Bentham and Sovereignty V. Bentham on Peace VI. Bentham on War VII. Bentham and the Colonies VIII. Bentham the International Political Economist II(. Conclusion X. Bibliography Introduction Nature has placed mankind under the govemance of two sovereign masters, pain and pleasure. It is for them alone to point out what we ought to do, as well as to determine what we shall do. On the one hand the standard of right and wrong, on the other the chain of causes and effects, are fastened to their throne. They govern us in al1 we do, in ail we Say, in al1 we think: every effort we can make to throw off our subjection, wili serve but to demonstrate and confirm it. In words a man may pretend to abjure their empire: but in reality he will remah subject to it dlthe while. The principle of utili~recognizes this subjection, and assumes it for the foundation of that system, the object of which is to rear the fabric of felicity by the hands of reason and of law. Systems which attempt to question it! deal in sounds instead of sense, in caprice instead of reason, in darkness instead of light.' Jeremy Bentham's (1 748-1 832) famous, if not infamous, passage on the pursuit of pleasures and avoidance of pains sets the stage for Our understanding of his principle of utility - the well known foundation of his political and Iegal theory. Bentham's name is well known in political philosophy circles as the vast proportion of his work addressed legal theory and reform, and what constituted the ideal relationship between the governors and the govemed. His work has had some impact on international relations C theon! but generally speali;ing, the man and his contribution to international relations thinking are largely unexamined and unknown. Upon inspection Bentham's work has a great deal to offer to international relations scholarship. Additionally, Bentham lived during, and responded to, a number of critical events that took place in the late 1700s and early 1800s, such as the American and French revolutions, and the Napoleonic wars- These events, as well as the circumstances of his life, had an impact on his writing in ' J. Bentham, An Inrroducrion ro the Princbles and Morals of legislation (New York: Hafier Pubiishing C., 1965). 1. international affairs, providing us with many worthwhiIe insights into his work in particular, and international relations theoy in general. Bentham and his world Especially in his later years, Bentham's eccentrÏc lifestyle made hL?I prone to ridicule and caricature, with John Stuart Mill providing one of the more influential critiques of Bentham's life, often discrediting bis years of work: In one of two extremely interesting essays which Mill] wrote about Bentham after his death, Mill applauded many of his ideas and achievernents, but portrayed him as chiIdlike, cloistered, equable, and emotionally shallow-as someone who had never known adversity or dejection, and whose knowledge of human affairs and human nature was very ~onfined.~ This characterization was not entirely accurate* as Bentham was familiar with dejection. and had enough exposure to political events to prompt his addressing many prominent leaders of his day, Catherine the Great, and Pitt the Younger arnong them. Nonetheless, even though "[nlot many philosophers-though Mill himself was one of the exceptions-have had as much contact with the world of affairs as Bentham did?''' his contact was ofien awkward and diffident. Although Bentham was continually interested in the events surrounding him, he was not predisposed to an actively public life. Born in February of 1748. Bentham enjoyed a childhood in a prosperous, middle cIass, London family. His father was a successful attorney and played a dominant, if not domineering, role in Bentham's life, even more so when his mother died when he was 10 years old. His intelligence was recognized early, 'John Dinwiddy, Bentham (Oxford: Oxford University Press, 1989), 19. encouraged by a proud and detemiined father, beginning Latin studies at the age of three, entering Westminster at the age of seven, and moving on to Queen's College, Oxford at the age of 12. More than able to meet the intellectual challenges of school, Bemtham was otherwise unhappy. He was smaller than his schoolmates, and much younger than his colleagues at Oxford: "kept very short of money by his father, he lived an ismlated and resûicted life, and meanwhile gained little satisfaction fiom the desultory and pedestrian teaching offered by his tutors.'* Trained as a lawyer, Bentham did little to pursue an active law career, never tried a case, and gave up any notion of practicing shortly thereafter. He was aghast at the disorder disguised as the English legal sy stem. He turned to addressing that disorder, and spent the rest of his life writing abou3 the legal system and how it could be irnproved.
Recommended publications
  • Examining the Philosophical Inconsistencies of Libertarian Paternalism

    Examining the Philosophical Inconsistencies of Libertarian Paternalism

    Munich Personal RePEc Archive The Curious Case of Choice Architect: Examining the Philosophical Inconsistencies of Libertarian Paternalism Kuriakose, Francis and Kylasam Iyer, Deepa Erasmus University Rotterdam, University of Cambridge 24 April 2017 Online at https://mpra.ub.uni-muenchen.de/84842/ MPRA Paper No. 84842, posted 06 Nov 2019 16:37 UTC The Curious Case of Choice Architect: Examining the Philosophical Inconsistencies of Libertarian Paternalism Francis Kuriakose and Deepa Kylasam Iyer April 2017 Abstract Classical economics works on the principle that individuals are rational and make decisions to maximize their self interest. However in real situations, individuals face a conflict between rational and irrational selves leading to decision making that does not leave them better off. Libertarian paternalism proposes a solution to this rationality problem in an individual by conceiving a choice architect. Choice architect is a third party capable of arriving at what a perfectly rational choice would be and ‘nudges’ an individual towards making that choice. Libertarian paternalists claim that choice architect does not interfere with the freedom of an individual because the choices he offers are easily reversible, i.e, an individual can reject it at any given point in time. Libertarian Paternalism seems to offer the third way between absolute autonomy of individual choice (libertarianism) and third party intervention (paternalism). This paper argues that the conception of a choice architect comes out of a hasty commitment to reconciling libertarianism and paternalism by placing perfect rationality and autonomy in two separate individuals in the case of a single decision making process. The paper proposes alternatives to confront the rationality problem.
  • Jeremy Bentham, Liberalism and the Science of International

    Jeremy Bentham, Liberalism and the Science of International

    Faculty of Law Victoria University of Wellington Foundations on Silt: Jeremy Bentham, Liberalism and the Science of International Law Research Paper History and Theory of International Law (LAWS 540) Robert Deuchars 1 Contents 1. INTRODUCTION ................................................................................................................ 3 2. BENTHAM VS BLACKSTONE ........................................................................................ 5 3. INTERNATIONAL LAW AND THE PRINCIPLE OF UTILITY ................................. 8 4. THE CODIFICATION OF INTERNATIONAL LAW .................................................. 15 5. CONCLUSION ................................................................................................................... 19 Word count: 7,522 (excluding footnotes). 2 1. Introduction When the words good or bad are uttered the user generally takes their meaning derived from a system of ethics or morals. In this sense good and bad are particularist in nature and also socio-culturally specific. Let us take a simple example from Antiquity. At school in the West we learn of a figure called Alexander the Great, the Macedonian. By all accounts we are taught that he was a great, and by extension a good man. In modern day Iran Alexander of Macedonia is known as Alexander the Devil. So the question arises: was Alexander good or bad , or both? Is it possible to state unequivocally that the actions of Alexander were as a matter of fact morally good or morally bad ? I think the answer to this question is fairly straightforward: it depends. Now this answer is not a simple descent into postmodern territory and moral relativism; there are genuine and empirical reasons to believe all three possibilities pertaining to the actions of Alexander. In short it is not possible to extrapolate from the particular to the general and it is not a question of semantics or even of critical hermeneutics.
  • The Rise of Liberal Utilitarianism: Bentham and Mill Piers Norris

    The Rise of Liberal Utilitarianism: Bentham and Mill Piers Norris

    The Rise of Liberal Utilitarianism: Bentham and Mill Piers Norris Turner, Ohio State University [DRAFT: final version forthcoming in The Blackwell Companion to 19th Century Philosophy, ed. J.A. Shand] I. Introduction By the turn of the nineteenth century, Jeremy Bentham (1748-1832) was a well-known moral and legal reformer. A child of the Enlightenment, writing at the time of the American and French revolutions, Bentham had offered wide-ranging critiques of customary institutions and ways of thinking. He was particularly critical of appeals to natural law and intuition that, consciously or not, provided mere cover stories for people’s preferences. Such appeals, he argued, fail to provide real reasons: The various systems that have been formed concerning the standard of right and wrong… consist all of them in so many contrivances for avoiding the obligation of appealing to any external standard, and for prevailing upon the reader to accept of the author’s sentiment or opinion as a reason in itself. (An Introduction to the Principles of Morals and Legislation [IPML], II.14; B i.8)1 Because these cover stories are guided by people’s preferences, Bentham also argued that they are incapable of grounding a principled and well-organized set of public institutions. They instead protect established powers, whose likes and dislikes carry the most weight. His earliest writings, for instance, detail how the vagaries of the common law served entrenched interests rather than the public at large. What Bentham needed was a public principle that could guide a scientific program of legal codification and political reform.
  • HUME and MILL on "UTILITY of RELIGION": a BORGEAN GARDEN of FORKING PATHS?L

    HUME and MILL on "UTILITY of RELIGION": a BORGEAN GARDEN of FORKING PATHS?L

    TEAO~ Reuista Iberoamericana de Estudios Utilitaristas-2005, XlVII: 117-129 ISSN 1132-0877 HUME AND MILL ON "UTILITY OF RELIGION": A BORGEAN GARDEN OF FORKING PATHS?l JOSE L. TASSET2 University ofA Coruiia ABSTRACT This work is not a specific assessment of Utility ofReligion by John Stuart Mill, but a defence of what I think is a utilitarian, but not millian, view on the problem that work states, the question of the utility of religion in contemporary societies. I construct that view from neohumeanism more than from millian positions, notwithstanding, I postulate that view as a genuine utilitarian one. Every cultural tradition makes a different approach to ethical and political theories. Spanish and Ibero-American utilitarians make precisely it with Clas­ sical Utilitarianism. From that point of view, Ibero-American people identifies utilitarianism with radical and enlightened tradition linked with the reform that through XVIIIth and XIXth centuries tried to undermine the foundations of conservative society in our nations. This aim was not achieved, at least not completely; because of that, the pursuit of Utilitarianism remains opened between us. In the end,I will argue that Spanish and Ibero-American utilitarians connect utilitarianism with philosophical and political radicalism, and inside that His­ panic utilitarianism, plays an important role the criticism of social and political functions of Religion. Maybe, part of the future of Utilitarianism in our cultural context depends on a return of the Theory to its radical roots, also in religious subjects. Keywords: J ohn Stuart Mill, David Hume, Jorge Luis Borges, religion, deism, theism, functionalism, truth. RESUMEN Este trabajo no pretende ser una evaluaci6n especifica de la Utilidad de la Religi6n de John Stuart Mill, sino una defensa de 10 que creo es una posici6n 1 Date of acceptance: 26/07/2006.
  • Critique of the Doctrine of Inalienable, Natural Rights

    Critique of the Doctrine of Inalienable, Natural Rights

    Critique of the Doctrine of Inalienable, Natural Rights JEREMY BENTHAM From Jeremy Bentham, Anarchical Fallacies, vol. 2 of Bowring (ed.), Works, 1843. PRELIMINARY OBSERVATIONS The Declaration of Rights -- I mean the paper published under that name by the French National Assembly in 1791 -- assumes for its subject-matter a field of disquisition as unbounded in point of extent as it is important in its nature. But the more ample the extent given to any proposition or string of propositions, the more difficult it is to keep the import of it confined without deviation, within the bounds of truth and reason. If in the smallest corners of the field it ranges over, it fail of coinciding with the line of rigid rectitude, no sooner is the aberration pointed out, than (inasmuch as there is no medium between truth and falsehood) its pretensions to the appellation of truism are gone, and whoever looks upon it must recognise it to be false and erroneous, -- and if, as here, political conduct be the theme, so far as the error extends and fails of being detected, pernicious. In a work of such extreme importance with a view to practice, and which Throughout keeps practice so closely and immediately and professedly in view, a single error may be attended with the most fatal consequences. The more extensive the propositions, the more consummate will be the knowledge, the more exquisite the skill, indispensably requisite to confine them in all points within the pale of truth. The most consummate ability in the whole nation could not have been too much for the task -- one may venture to say, it would not have been equal to it.
  • Studies in Tennyson Poems of Tennyson

    Studies in Tennyson Poems of Tennyson

    1920. COPTBIGHT, 1889. 1891. 1892. 1897, 1898. BY CHARLES SCRIBNEB's SONS Published February, 1920 PR. 558% V4 THE 8CRBNER PRESS BY HENRY VAN DYKE The Valley of Vision Fighting for Peace The Unknown Quantity The Ruling Passion The Blue Flower Out-of-Doors in the Holy Land Days Off Little Rivers Fisherman's Luck Poems, Collection in one volume Golden Stars The Red Flower The Grand Canyon, and Other Poems The White Bees, and Other Poems The Builders, and Other Poems Music, and Other Poems The Toiling of Felix, and Other Poems The House of Rimmon Studies in Tennyson Poems of Tennyson CHARLES SCRIBNER'S SONS STUDIES IN TENNYSON <J / A YOUNG WOMAN OF AN OLD FASHION WHO LOVES ABT NOT ONLY FOE ITS OWN SAKE BUT BECAUSE IT ENNOBLES LIFE WHO READS POETRY NOT TO KILL TIME BUT TO FILL IT WITH BEAUTIFUL THOUGHTS AND WHO STILL BELIEVES IN GOD AND DUTY AND IMMORTAL LOVE I DEDICATE THIS BOOK PREFACE 1 HIS volume is intended to be a companion to my Select Poems of Tennyson. I have put it second in the pair because that is its right place. Criticisms, com^ ments, interpretations, are of comparatively little use until you have read the poetry of which they treat. Like photographs of places that one has not seen, they lack the reviving, realizing touch of remembrance. The book contains a series of essays, written at dif- ferent times, printed separately in different places, and collected, substantially, in a book called The Poetry of Tennyson, which was fortunate enough to find many friends, and has now, I believe, gone out of print.
  • Philosophy of Anti-Slavery

    Philosophy of Anti-Slavery

    Nathaniel Adam Tobias Coleman [email protected] • http://natcphd.me PHIL3061: The philosophy of anti-slavery Slavery. It was wrong, wasn't it? That much we know. Yet, why was it wrong? The societies that benefitted from slavery had to be convinced that it was wrong. Indeed, they had to be persuaded to give it up. Moreover, for them, it was not enough that the case for slavery was shown to be unsound; they wanted to hear the case against slavery. Although we don't need to be persuaded by the case against slavery, we struggle to explain exactly what that case is. For this reason, we will revisit, analyse, and evaluate some of the arguments historically used to explain the wrongness of slavery. To do this, we shall focus on a period of time that we might call 'the longer eighteenth century of British abolitionism': it begins with the Germantown Protest of 1688 and ends, 150 years later, with the final emancipation of all persons enslaved-as-negro in the British Empire, in 1838. However, we frame our investigation by the anglophone world established by British imperialism, not because Britain's abolition of negro slavery was the first—no, that occurred in St-Domingue (later Haiti), in 1793—but rather because Britain currently enjoys (deservedly or not) special moral praise for its 'leading' contribution to the emancipation of all persons enslaved-as-negro, across all the European empires. Ultimately, by evaluating the arguments of (1) European abolitionists, (2) enslaved Africans, and (3) Haitian revolutionaries, we will grasp the place that these arguments occupy in the broader philosophical debate among three major moral theories: (a) the utilitarian idea that a policy is wrong, if its painful results outweigh its pleasurable results, (b) the theory of natural rights, according to which a policy is wrong, if it violates a person's human right, and (c) the theory of human flourishing, according to which a policy is wrong, if it corrupts a person's character.
  • Economy and Polity in Bentham's Science of Legislation

    Economy and Polity in Bentham's Science of Legislation

    Economy and Polity in Bentham’s Science of Legislation* David Lieberman Jurisprudence and Social Policy Program University of California, Berkeley [forthcoming in British Intellectual History 1750-1950, eds. Stefan Collini, Richard Whatmore and Brian Young (Cambridge University Press)] Recent study of British political thought in the decades between the American War of Independence and the Great Reform Act has produced a crowded picture dense with political traditions and doctrinal configurations. If earlier historical scholarship tended to focus on a limited number of famous contests (Burke against the Rights of Man; Whigs vs. Radicals over constitutional reform), we now are as likely to scrutinize High Church ecclesiology and Christian political economy; philosophic history and natural jurisprudence; Paleyite theological utilitarianism and evangelical social thought; shifting configurations of Dissent and Protest, and of Dissent and Patriotism; and finely-shaded and carefully-delineated varieties of Whiggism and Toryism. In a manner perhaps surprising, this scholarship has left relatively untouched the figure of Jeremy Bentham, whose writings on law and politics had for earlier generations seemed an obvious and critical landmark for this period of British intellectual history. Often this (relative) neglect of Bentham is the intended aim of revisionist interpretation: the product of the well-rehearsed rejection of Leslie Stephen’s image of Utilitarianism as the natural heir of English Thought in the Eighteenth Century or of A.V. Dicey’s depiction of Benthamism as Economy and Polity in Bentham (2) the definitive blueprint for Victorian legislative reform. But some of this neglect may be considered the less intended by-product of the state of current Bentham scholarship.
  • Open Research Online Oro.Open.Ac.Uk

    Open Research Online Oro.Open.Ac.Uk

    Open Research Online The Open University’s repository of research publications and other research outputs Tennyson and the Fabrication of Englishness Thesis How to cite: Sherwood, Marion Frances (2011). Tennyson and the Fabrication of Englishness. PhD thesis The Open University. For guidance on citations see FAQs. c 2011 The Author Version: Version of Record Copyright and Moral Rights for the articles on this site are retained by the individual authors and/or other copyright owners. For more information on Open Research Online’s data policy on reuse of materials please consult the policies page. oro.open.ac.uk UNReSTRlCTC-P ' Marion Frances Sherwood MA TENNYSON AND THE FABRICATION OF ENGLISHNESS Doctor of Philosophy: The Open University Faculty of Arts: Department of English Submitted on 30 September 2010 X)aX<~ o l 5ubvYuS5tf3t^', 2 $ S^ptowb^/ Zoif Date,qj f\Waf(L: March. 2o|i ProQuest Number: 13837621 All rights reserved INFORMATION TO ALL USERS The quality of this reproduction is dependent upon the quality of the copy submitted. In the unlikely event that the author did not send a com plete manuscript and there are missing pages, these will be noted. Also, if material had to be removed, a note will indicate the deletion. uest ProQuest 13837621 Published by ProQuest LLC(2019). Copyright of the Dissertation is held by the Author. All rights reserved. This work is protected against unauthorized copying under Title 17, United States C ode Microform Edition © ProQuest LLC. ProQuest LLC. 789 East Eisenhower Parkway P.O. Box 1346 Ann Arbor, Ml 48106- 1346 Thesis Abstract Tennyson and the Fabrication of Englishness Nineteenth-century preoccupation with the meaning of Englishness began with the origin of the term in 1804.
  • The Impossibility of the Happiness Pill Bentham, Mill, and Isaiah Berlin On

    The Impossibility of the Happiness Pill Bentham, Mill, and Isaiah Berlin On

    1 The Impossibility of the Happiness Pill Bentham, Mill, and Isaiah Berlin on Determinism and Liberal Neutrality Gianfranco Pellegrino Bentham Project (UCL) [email protected] (Very early draft. Please, don't quote.) ABSTRACT. Isaiah Berlin once claimed that Bentham and James Mill might have considered the use of “techniques of subliminal suggestion or other means of conditioning human beings.” In this paper I argue that Berlin’s provocative suggestion is quite misplaced since Bentham wouldn’t have given such medical treatment, even if it were possible, as many passages of his most known texts make clear. In the context of his criticism of moral sense theories, Bentham claimed that there is no stable connection between motives and actions, because the same sort of motives could lead to different actions, depending on the sensibilities of the agent. This view of motives and their connection with actions makes empirically impossible the nightmare of an illiberal mass treatment with medicines: if there are no stable connections between motives and actions, it is impossible for any medicine to have uniform effects over persons. Bentham’s skeptical arguments provide strong foundations to a liberal view of the limits and the legitimacy of government intervention. Bentham endorsed the well-known ‘best judge argument’ in favor of non-interference, providing a distinctive and novel foundation to it. 1. Manipulative Utilitarianism: Berlin on Bentham and Mill According to a common view, the following argument hold true: The manipulation argument For utilitarianism, an action is right if and only if it is conducive to the greatest happiness of the greatest number.
  • An Attempt to Reshape Capitalism's Image

    An Attempt to Reshape Capitalism's Image

    Volume 6 Article 7 2012 An Attempt to Reshape Capitalism’s Image Ross A. Nichols Gettysburg College Class of 2013 Follow this and additional works at: https://cupola.gettysburg.edu/ger Part of the Economic History Commons, Economic Theory Commons, and the Macroeconomics Commons Share feedback about the accessibility of this item. Nichols, Ross A. (2012) "An Attempt to Reshape Capitalism’s Image," Gettysburg Economic Review: Vol. 6 , Article 7. Available at: https://cupola.gettysburg.edu/ger/vol6/iss1/7 This open access article is brought to you by The uC pola: Scholarship at Gettysburg College. It has been accepted for inclusion by an authorized administrator of The uC pola. For more information, please contact [email protected]. An Attempt to Reshape Capitalism’s Image Abstract John Stuart Mill claimed to be a disciple of both Jeremy Bentham and David Ricardo. This was a strange proclamation because each man advocated a competing theory of value; Bentham’s utilitarianism laid the foundation for the utility theory of value and Ricardo developed the labor theory of value. Mill’s goal in attempting to unify these theories of value was to provide a solution for the growing class conflict that plagued capitalism. Class conflict arose as feudalism was phased out and industrial capitalism replaced merchant capitalism as the dominant economic system. The orC n Laws symbolized this competition between classes. Capitalists were against the Corn Laws because the subsequent tariffs would lower their rate of profit. Landowners supported the Corn Laws because they increased the rent on land. Even Karl Marx held spoke out against the Corn Laws on behalf of the working class.
  • An Alternative View of Usury in Adam Smith's Thinking

    An Alternative View of Usury in Adam Smith's Thinking

    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Trinity University Trinity University Digital Commons @ Trinity Economics Faculty Research Economics Department Spring 2003 In Medio Stat Virtus: An Alternative View of Usury in Adam Smith’s Thinking Maria Pia Paganelli Trinity University, [email protected] Follow this and additional works at: https://digitalcommons.trinity.edu/econ_faculty Part of the Economics Commons Repository Citation Paganelli, M.P. (2003). In medio stat virtus: An alternative view of usury in Adam Smith’s thinking. History of Political Economy, 35(1), 21-48. doi: 10.1215/00182702-35-1-21 This Article is brought to you for free and open access by the Economics Department at Digital Commons @ Trinity. It has been accepted for inclusion in Economics Faculty Research by an authorized administrator of Digital Commons @ Trinity. For more information, please contact [email protected]. In Medio Stat Virtus: An Alternative View of Usury in Adam Smith’s Thinking Maria Pia Paganelli Some specific positions of Adam Smith have been, and still are, sources of problems and debates. Generally, the controversies concern apparent contradictions in the Smithian theory. An example of these puzzling con- tradictions in Smith is his position on usury laws: In countries where interest is permitted, the law, in order to prevent the extortion of usury, generally fixes the highest rate which can be taken without incurring a penalty. This rate ought always to be some- what above the lowest market price, or the price which is commonly paid for the use of money by those who can give the most undoubted security.