This is Mill’s first work on economics. It foreshadows his Political Economy which was the standard Anglo-American Economics textbook of the late 19th and early 20th centuries. Mill’s economic theory moved from free market capitalism, to government intervention within the precepts of Utilitarianism, and finally to Socialism.
This lengthy political essay by noted Canadian humourist Stephen Leacock was written while he was professor of political economy at McGill University. He argues for a middle ground between individualism/capitalism and pure socialism. Listeners in the early 21st century may find this 90-year old essay oddly topical.
A clear boundary exists between the servile and the non-servile condition of labour, and the conditions upon either side of that boundary utterly differ one from another, Where there is compulsion applicable by positive law to men of a certain status, such compulsion enforced in the last resort by the powers at the disposal of the State, there is the institution of Slavery; and if that institution be sufficiently expanded the whole State may be said to repose upon a servile basis, and is a Servile State. (Hilaire Belloc)