"THE UNRESTRAINED STRUGGLE FOR PROFITS": FIRST EDITION OF FAIRCHILD'S PROFITS OR PROSPERITY?, 1932
FAIRCHILD, Henry Pratt. Profits or Prosperity? New York and London: Harper & Brothers, 1932. Octavo, original blue cloth, paper labels, original dust jacket and bellyband. $985.
First edition of prominent sociologist and economist Fairchild's attack on the profit motive, an especially fine copy in original dust jacket and rarely found publisher's bellyband with a quote by Theodore Dreiser.
In this major work by prominent sociologist and economist Fairchild, he confronts the "paradox of poverty" and argues: "the tap root of the difficulty is the unrestrained struggle for profits in an economic system where general and unlimited profits, particularly money profits, are mathematically impossible." Fairchild taught at Yale (1910-18) before his tenure at New York University (1919-45), where he was Chairman of the Department of Sociology. Here, as in many of his works, he supports a "'limited socialism' and consumptionist economics" (Hoff, State and the Stork, 90). In his address as the 26th president of the American Sociological Society (1936), Fairchild "contended that the sociologist's role is to analyze the integration of social elements in the business process, while economics analyzes the productive aspects. Thus, it is essential that sociologists and economists work side by side" (Bogardus, American Sociological Review). First edition, with key pieces such as: "The Fallacy of Profits," "Machines Don't Buy Goods," "Exit the Gospel of Work" and "The Great Economic Paradox," which were variously serialized in Virginia Quarterly Review and Harper's (1931-32). Original dust jacket with rarely found bellyband containing a quote by Theodore Dreiser: "I am delighted with it. It has more of the new and necessary facts, and a new mental approach. It should be profitable reading for thousands."
An exceptionally scarce fine copy in original dust jacket and bellyband.