Question1: Justifies Mill’s optimism regarding the stationary state
Mill’s justification on the idea concerning stationary state was a reaction towards the work of T. Robert Malthus and Adam Smith who were classical economists. Mill questioned the idea behind the essence of progress through demanding an explanation for the end of a development. He moves further ahead to assert that the increase of wealth is not and will never be boundless. Some classical economists argue that at the end of a progress it must result into a depressing or dire consequence. Mill bases his argument on several facts which displays his optimism on stationary state. First he argues that increase on ...
