Principles of Political Economy, Considered with a View to their Practical Application

Price: 3,500.00 USD

London: John Murray, 1820. First edition. vi, 601 pp. 1 vols. 8vo (219 x 132 mm.). First edition of this important classic of economic theory. "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 IX:70). Goldsmith 22767; Lowndes, 1459; Kress C577 First edition. Bound in later half cloth and marbled boards, paper label. Very good.

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