BAUMAN RARE BOOKS 52 “The Next Step Forward Must Come, Not From Political Agitation Or Premature Experiments, But From Thought” 65KEYNES, John Maynard. The End of LaissezFaire. London, 1926. Small octavo, original half gray cloth, dust jacket. $6000 First edition of this timely economic and philosophical discussion by the most important economist of the 20th century, one of 2000 copies printed, in scarce original dust jacket. Stemming largely from Keynes’ arguments in the Tract on Monetary Reform (1923), The End of Laissez-Faire is an examination of the role and responsibility of governments in ameliorating the economic hardships of their citizens, namely the problem of unemployment. Keynes draws on writings of Locke, Rousseau, Paley, Bentham, Adam Smith, Malthus, Ricardo and others to call for a re-appraisal of government policy in favor of a broader, more active role in providing economic assistance. Boards and dust jacket lightly toned and worn; jacket with two small holes to back panel. A very good copy. “Hard Work, Unusually Strict Discipline, And A Long-Term Investment Horizon” 66KLARMAN, Seth A. Margin of Safety. RiskAverse Value Investing Strategies for the Thoughtful Investor. New York, 1991. Octavo, original half navy cloth, dust jacket. $6500 First edition, first printing, of this influential guide outlining how to avoid the pitfalls of fad investing and become a value investor. Klarman, whose pivotal Margin of Safety and other writings have been “coveted and followed by Wall Street… is a giant within investment circles. He is often compared to Warren Buffett, and Economist magazine once described him as ‘The Oracle of Boston’” (New York Times). This highly influential work both identifies the pitfalls of traditional trend investing and offers a new path—value investing. Klarman’s preferred investment method is also lower risk and potentially more profitable. First editions of Margin of Safety are extremely sought-after by investment professionals since going out of print. Book fine, dust jacket very nearly so with one faint crease to front flap.
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