“ONE OF THE FOUNDERS OF MODERN ECONOMICS”: FIRST EDITION OF MALTHUS’ PRINCIPLES OF POLITICAL ECONOMY, 1820
MALTHUS, Thomas Robert. Principles of Political Economy Considered with a View to their Practical Application. London: John Murray, 1820. Octavo, contemporary three-quarter brown calf and marbled boards rebacked in elaborately gilt-decorated calf, raised bands, red morocco spine label.
First edition of this important classic of economic theory, scarce in contemporary marbled boards.
"There can be no doubt that [Malthus'] importance for economists today rests mainly on his Principles of Political Economy. It was because of this latter work that J. M. Keynes (1933) reinstated Malthus as a major figure in modern economic thought" (New Palgrave). "One of the founders of modern economics," Malthus was credited by Keynes with framing the theory "that a lack of effective demand can cause economic crises" (PMM 251). "In his Principles of Political Economy, Malthus was proposing investment in public works and private luxury as a means of increasing effective demand, and hence as a palliative to economic distress. The nation, he thought, must balance the power to produce and the will to consume" (DSB). Goldsmith 22767. Lowndes, 1459. Kress C577. Contemporary owner inscription of J[ohn] Mirehouse dated 1849 with his armorial Mirehouse bookplate.
Text fresh with only tiny bit of edge-wear to a few early leaves, lightest scattered foxing, light rubbing to contemporary boards. An attractive, scarce, extremely good copy.