JOHN STUART MILL
§ 1. Begins with “empirical” laws of supply and demand, and of
entrepreneur’s costs 104
§ 2. Scant attention paid to subjective costs 106
§ 3. Wavers concerning inclusion of “profits” in cost: an
illustration of the inadequacy of the ancient
philosophy of value 107
§ 4. Follows Ricardo, without the slightest improvement in
his explanation of the interest complication 108
§ 5. Departs from Ricardo in admitting that case of skilled
labor necessitates qualification of the labor-cost theory 110
§ 6. Summary: the labor theory weakened; comparison with Malthus
and Senior 112