John Stuart Mill (1806— 1873) is a famous British economist, philosopher and logician. 1806 Born in London on May 20th, he is the eldest son of British economist james mill. When Mueller was young, the old Mueller gave him very strict training. At the age of 3, old Muller personally taught Greek and mathematics. Learn Latin at the age of 8; Later he studied geometry, algebra, chemistry and physics; 12 years old learning logic; /kloc-at the age of 0/3, he completed Ricardo's Political Economy and Tax Principles and Smith's The Wealth of Nations under the guidance of his father. /kloc-went to France to study at the age of 0/4, and stayed in Bentham and Say's home successively, influenced by his thoughts. 1822, he joined the East India Company where his father worked. 1828 served as assistant prosecutor, 1836 took over from his father after Mueller's death. He worked in the East India Company for 35 years and retired when the company 1858 was dissolved. 1865-1868 was elected as a member of the house of commons, and put forward Irish women's participation in politics, proportional representation system and land reform.

Mill's works mainly include: Logical System (1843), Unresolved Problems of Political Economy (1844), Principles of Political Economy (1848), On Autonomy (1859) and Politics.

In the history of western economic thought, Mill's Political Economy is considered as the representative work of classical school theory. The book includes production theory, distribution theory, price theory and determination of terms of trade.

He synthesized various economic theories at that time, revised Smith's and Ricardo's views on the universality and eternity of economic laws, and divided economic laws into two categories: production laws and distribution laws. He believes that the former is an eternal law and does not change with the change of social system, while the latter is controlled by people's will and depends on social habits and laws, so it is variable, which provides a basis for his social reformist policy program.

Mill formally inherited Ricardo's labor theory of value, and at the same time integrated supply and demand theory and production cost theory into his value theory. When discussing the determination of value, he divided commodities into three categories: (1) a limited number of commodities, such as antiques, whose value depends on the relationship between supply and demand. (2) the supply can be increased indefinitely, and the production cost will not increase, such as industrial products. Its value is determined by the production cost, and its market value is the result of supply and demand. The production cost is specifically the salary plus the average profit. (3) Commodities whose supply quantity can be increased and the unit production cost will increase accordingly, such as agricultural products. Its value is influenced by the law of diminishing land income and determined by the maximum production cost of the supply necessary for production.

On the issue of wages, Mill combined Ricardo's natural wages with Malthus' population theory. In terms of profit, we accept Ricardo's view that profit is surplus value, accept Say's view and senior view, and divide profit into interest, insurance premium and management salary, which are explained by abstinence, risk reward and capitalist labor reward respectively. His land rent theory basically follows the views of Smith and Ricardo, but the difference is that the interests of landlords and industrial bourgeoisie are not absolutely opposite.

Mill tried to reconcile the abstract method with the historical method in methodology, thinking that the former had limitations, so he introduced the historical method into economics. Muller also discussed economic growth and development, population, international trade and the role of the state in economic life. Mill used eclecticism to synthesize various economic theories, and his book Principles of Political Economy has been regarded as an "indisputable Bible" by British economists for decades. His theoretical system is regarded as the first great synthesis in the history of economic thought.