"THE FIRST AND GREATEST CLASSIC OF MODERN ECONOMIC THOUGHT": IMPORTANT FIRST OCTAVO EDITION OF WEALTH OF NATIONS, 1784, THE FIRST EDITION TO INCORPORATE SIGNIFICANT ADDITIONS AND REVISIONS BY SMITH, RARE IN ORIGINAL BOARDS AND PAPER SPINES

SMITH, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations. London: Printed for W. Strahan; and T. Cadell, 1784. Three volumes. Octavo, original half tan paper and blue gray boards, uncut. Housed in individual custom chemises, and together in a custom clamshell box.

First octavo edition (third edition overall) of Smith's landmark work on the individual's right to the free exercise of economic activity, "the first and greatest classic of modern economic thought" (PMM 221), an exceptional uncut copy in original boards and paper spines.

Smith's Wealth of Nations was an immediate success when first published, and four additional editions came out during Smith's lifetime. The 1776 first edition is exceptionally rare. "The tone of irreverent skepticism with which it describes the motives of men and governments has influenced the style of economic discourse to the present day… The historical importance of the Wealth of Nations is surpassed by no other economic book… Smith, for the first time, put together the body of economic knowledge that can still be recognized as an early form of what today may be called mainstream economics… There is little in Jean-Baptiste Say, Robert Malthus, David Ricardo, and John Stuart Mill that is not, more or less directly, an elaboration of Adam Smith" (Niehans, A History of Economic Theory, 62-72). This is the first edition to incorporate many of his significant additions, revisions and corrections, together with an extensive index. It was the last revision Smith made. With rear page of publisher's advertisement; bound without half titles. Goldsmith 12554. Kress B789. Rothschild 1901. ESTC T95115. Volume I with contemporary gift inscription dated 1803; title page with recipient's owner signature. Volume III with early notations on rear blank. Original paper spines with titles in an unidentified cursive.

Text generally fresh with only light scattered foxing, original paper spines with partial loss, mild rubbing, spotting to boards. Volume I only has had a small stain to front board, spine and first few leaves including title page expertly cleaned, as well as partial loss to blank front flyleaf renewed and restored. An extraordinary set, most desirable uncut and in the original boards.