"THE PRINCIPLES OF POLITICAL ECONOMY ARE SO CLOSELY ANALOGOUS TO THOSE OF MORAL PHILOSOPHY, THAT ALMOST EVERY QUESTION N THE ONE, MAY BE ARGUED ON GROUNDS BELONGING TO THE OTHER"
WAYLAND, Francis. The Elements of Political Economy. New York: Leavitt, Lord, 1837. Octavo, original blind-stamped brown cloth; pp. xv, (1), 472. $800.
First edition of this leading 19th-century textbook on political economy.
Wayland argues for free trade in his Elements, a textbook that "was very successful and obtained wide use" (Palgrave III:660). Elements "promptly displaced Jean Baptiste Say's Treatise on Political Economy as the principal economics text in American colleges. Designed to useful to the layperson, Wayland's book inveighed against the statism of the French Revolution, the backwardness of the Indians, the 'tyranny' of labor unions, and the evils of helping the undeserving poor. His notions of political economy and philanthropy dictated that the most important obligations of the state were to foster education and promote morality. Political Economy dealt forthrightly with too many controversial issued to be universally popular" (ANB). Francis Wayland (1796-1865) served as president of Brown University for 28 years (1827-55). Under his administration "the University grew in numbers and reputation, and its president attained general recognition as a preeminent figure in education. Great as an administrator, Wayland was perhaps even greater as a teacher… His textbooks in moral philosophy, intellectual philosophy, and political economy were widely used" (DAB X:1, 559). Kress C4531. Goldsmiths 29814. Sabin 102186. Early ink owner signatures including to half title.
Foxing to interior, front hinge starting, wear and toning to cloth extremities. A very good copy.