The Review of Austrian Economics 31:373–386 (2018)

Nick Cowen
University of Lincoln
Can John Stuart Mill’s radicalism achieve liberal egalitarian ends? Joseph Persky’s The Political Economy of Progress is a provocative and compelling discussion of Mill’s economic thought. It is also a defense of radical political economy. Providing valuable historical context, Persky traces Mill’s intellectual journey as an outspoken proponent of laissez-faire to a cautious supporter of co-operative socialism. I propose two problems with Persky’s optimistic take on radical social reform. First, demands for substantive equality have led past radicals to endorse exclusionary nationalist and eugenics policies. It pushes some contemporary radicals towards illiberal interventions into intimate social life. Second, the radical critique of capitalism relies on an account of profit that neglects the epistemic function of private-property markets. Once this is acknowledged, capitalism retains some progressive credentials against radical alternatives.
Keywords Mill  Marx  radical political economy  co-operatives  co-operatives  laissez-faire  utilitarians  bentham  Rawls  meade
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References found in this work BETA

Rescuing Justice and Equality.G. A. Cohen (ed.) - 2008 - Harvard University Press.
Justice as Fairness: A Restatement.John Rawls (ed.) - 2001 - Harvard University Press.
Risk, Uncertainty and Profit.Frank Knight - 1921 - University of Chicago Press.
Free Market Fairness.John Tomasi (ed.) - 2012 - Princeton University Press.
The Law of Peoples.John Rawls - 2001 - Philosophical Quarterly 51 (203):246-253.

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