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price delusion. He returned to economics in his large Principles of Political Economy with Some of their Applications to Social Philosophy, first published in 1848, republished seven times in his lifetime and the standard textbook on the subject in the UK until MARSHALL's Principles superseded it in 1890. Many features of the work were novel. He introduced a discussion of idealist SOCIALISM (sT SIMON and FOURIER) - partly under the influence of Harriet Taylor, later to be his wife - and clearly expounded what have become key economic concepts. In the Principles, OPPORTUNITY COST, ECONOMIES OF SCALE, the problem of JOINT COSTS and ######UAL DISCRIMINATION in the labour market are some of his numerous innovations. His self-confident claim that he had finally sorted out the theory of value invited the ridicule of later writers, particularly JEVONS, but MARSHALL can in many respects be regarded as a follower.<br /><em>Reference</em><br />Hollander, S. (1985) The Economics of John Stuart Mill, Oxford: Basil Blackwell.<br /> Mill, J.S. (1963) The Collected Works of John Stuart Mill, Toronto: University of Toronto Press; London: Routledge Kegan Paul.<br /> Ryan, A. (1974) J S. Mill, London: Routledge.
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