Books

VIII, 550 pp., 1 leaf publisher s advertisement. 8vo. Half calf with spine label, rebound by using old spine material. Inspired by Adam Smith s "The Wealth of Nations", David Ricardo (1772 1823) "decided to devote himself to political economy" (PMM). His present famous "Principles" first appeared in 1817 in 750 copies only. These copies today are quite unaffordable and even the present second edition printed in 1000 copies and published in the year when Ricardo was elected to Parliament, is of great value. Ricardo s "fundamental ground-work [.] is based on the theory that, given free competition in trade, the exchange value of commodities will be determined by the amount of labour expended in production [.] Ricardo also developed Adam Smith s theory of taxes [.] A tax is not always paid by those on whom it is levied; a correct taxation policy will always depend on a correct estimate of the indirect and ultimate effects of every form of tax" (PMM). Cf. PMM 277; Borst 1281. No half title. Inner hinge partly starting after first quire. Somewhat browned throughout. A fair copy in all.