Why Does Economics Refuse to Acknowledge John Ruskin’s Illith, as in Harmful Activity?
Tuesday, February 17, 2026
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John Ruskin, a Victorian-era polymath, coined the term "illth" in 1860 to describe wealth creation that causes social damage, delay, and decay, arguing that mere ownership of valuable things does not constitute wealth without purpose or social contribution.
Ruskin's concept of illth challenges the idea that private accumulation of wealth is automatically good for society, instead suggesting that unused, misused, or hoarded wealth can drain vitality from an economy and cause harm, as noted by Richard Murphy in his Economic Questions series.
The concept of illth remains relevant today, as it reframes the debate about inequality, hoarding, and the responsibilities that come with ownership, emphasizing the need to consider the true cost of production and the benefits of accumulation, as discussed on Naked Capitalism and Funding the Future.
