Socialism Versus Capitalism First Edition - A.C. Pigou - Bauman Rare Books

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Socialism Versus Capitalism

A.C. PIGOU

Item#: 113686 We're sorry, this item has been sold

Socialism Versus Capitalism

"A FIGURE OF GREAT IMPORTANCE IN THE HISTORY OF ECONOMICS AND OF ECONOMIC THOUGHT"

PIGOU, A.C. Socialism Versus Capitalism. London: Macmillan, 1937. Octavo, original tan cloth, original dust jacket.

First edition of a core work by Pigou, "known as the father of modern welfare economics… also one of the founders of modern public finance," a handsome copy in the original dust jacket.

In Socialism versus Capitalism, Pigou ultimately advocates a capitalist system gradually transitioned toward socialism (without drastic change or revolution as in Soviet Russia). A devoted student of Marshall, Pigou is "a figure of great importance in the history of economics and of economic thought" (Kumekawa, First Serious Optimist, 2). He was pivotal in passing on the "Marshallian" tradition of economics at Cambridge and became its most vigorous defender against Keynesian economics. "Known as the father of modern welfare economics, which studies how to make economies operate more efficiently as well as the trade-offs between efficiency and equity, Pigou is also one of the founders of modern public finance" (Pressman, 97-9). He was "the originator of externality theory, the idea that there are costs—like those arising from pollution—that are not explicitly accounted for by the market. His contributions made him a monumental figure in the history of environmental economics, and today his legacy is both palpable and visible" (Kumekawa, 2). New Palgrave III: 876-9.

Light spine toning to dust jacket. A fine copy.

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Aquatint Copperplate process by which the plate is “bitten” by exposure to acid. By changing the areas of the plate that are exposed and the length of time the plate is submerged in the acid bath, the engraver can obtain fine and varying shades of gray that closely resemble watercolor washes. Although the name contains the word “tint”, this is a black-and-white printing process; aquatint plates can often be hand colored, however.
Armorial Used to describe a binding bearing the coat of arms of the original owner, or with bookplates incorporating the owner’s arms.
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Calf Binding material made from cowhide—versatile, durable, usually tan or brown in color, of smooth texture with no or little apparent grain. Readily marbled (“tree calf”), mottled, diced, colored, polished, tooled in gilt or blind, even scented (known as “russia”). Reverse calf, with a distinctive suede-like texture, is occasionally used.
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Collation Process by which the contents of a book are inspected for completeness, checking against internal evidence, the table of contents and/or plate list, and reference works. Also a shorthand bibliographical description of a book’s composition by its leaves and signatures, rather than its pages. A-C, for example, would indicate a quarto volume composed of three signatures or gatherings of eight pages each for a total of 24 pages.
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Doublure Pastedowns made not of paper but of leather, for decorative purposes.
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