Item #242928 Principles of Political Economy, Considered with a View to their Practical Application. Malthus, homas, obert.
Principles of Political Economy, Considered with a View to their Practical Application

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

London: John Murray, 1820.

First edition. vi, 601 pp. 1 vols. 8vo (219 x 132 mm.). Bound in later half cloth and marbled boards, paper label. Very good Einaudi 3680; Goldsmith 22767; Kress C-577; Schumpeter, pp. 482-83. Item #242928

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).

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