John Stuart Mill (1806-1873) was a British philosopher and statesman whose ideologies prompted the transition in the mid-nineteenth century from laissez-faire liberalism to a more socially conscious and democratic liberalism (Perry, 346). Consequently, Mill promoted economic democracy, a socio-economic philosophy that is defined by shifting power from corporate management to public stakeholders, however, not strict capitalism. This result came about due to Mill’s belief that capitalism allowed the government too much power, thereby leaving no room for individuals to hold a view on moral and intellectual issues. However, even though Mill feared the state as a threat to liberty, he also recognized the necessity for state intervention to promote
