John Atkinson Hobson

Biographical details

Portrait of John Atkinson Hobson John Atkinson Hobson,  Confessions of an Economic Heretic (1938)

“ The finest picture in the world has no effectual value if there is nobody available to appreciate its beauty. Even “a sheaf of wheat” may be devoid of “effectual” value if its owner has a surfeit, and it cannot pass to another who is in need of food. Curiously enough this view of wealth and value is here confined to the human utility of articles of wealth and takes no direct account of their human cost. This is the stranger inasmuch as Ruskin’s earliest and strongest charge against the economic system was that, by dividing and mechanizing labour, it took away all interest in and joy of work. ”
Source: Wikisource

Portrait of John Atkinson Hobson John Atkinson Hobson,  The American Journal of Sociology (1896)

“ They have been content as a rule to work out the harmony of individual interests in a community at a given time, forgetting that the organic life which gives the full unity is the total life of a number of successive generations, constituting the history of a race. Just as an individual, being part of a society, appears to make a sacrifice of the full free development of his individuality for the sake of society, so no single generation of society lives for itself alone, but is determined in its conduct by considerations of the good of other generations. ”
Source: Wikisource

Portrait of John Atkinson Hobson John Atkinson Hobson,  Confessions of an Economic Heretic (1938)

“ So it came about that the heresy of over-saving committed a deadly offence. It contravened the one claim which political economy had to ethical respectability. For the “economic man,” though consciously moved by intelligent self-interest in the pursuit of personal gain, was led “as by an invisible hand” to a line of conduct conducive to the welfare of the community. He could, therefore, figure as a benevolent or kindly being. For it was his function to keep down the costs of production, including wages, to the lowest level, in order that the product of industry should be as large as possible. ”
Source: Wikisource

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