“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, period-style three quarter diced calf gilt, raised bands, marbled boards and endpapers. $3800.

First edition of this important classic of economic theory, beautifully bound.

“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.

Text generally fresh with some scattered foxing. A very good copy of this seminal work.