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Final lifetime edition of Adam Smith's first book, with his extensive additions and revisions representing both the authoritative text and the summation of his philosophical thought. This edition is the first in two volumes. The sixth part, a 145-page study of "the Character of Virtue" was first published here, while the sections on Stoic philosophy and the principle of veracity were also heavily revised. The Theory of Moral Sentiments, first published in 1759, "would be enough to assure the author a respected place among Scottish moral philosophers, and Smith himself ranked it above the Wealth of Nations. Its central idea is the concept, closely related to conscience, of the impartial spectator who helps man to distinguish right from wrong" (Niehans, p. 62). Including Smith's first use of the "invisible hand" concept, the Theory laid the intellectual foundations of the Wealth of Nations, and the two texts outline a coherent and unified system of economic and moral philosophy. To answer the question of how humans could form moral judgements despite their overwhelming selfish passions, Smith develops the concept of an impartial spectator within the human psyche, passing dispassionate and unavoidable judgements on each person's behaviour. For Smith, self-seeking men are often "led by an invisible hand... and thus without intending it, without knowing it, advance the interest of the society" (vol. I, p. 466). This copy contains leaf *X in the cancelled state, correcting the word "his" to "their". Provenance: Svend Ranulf (1894-1953), with his ink signature to both half-titles. Ranulf worked as a sociologist in the tradition of Durkheim and was professor of philosophy at Aarhus University from 1939 to his death. He participated in the Danish Positivism dispute, during which he accused Theodor Geiger of laying the sociological groundwork for National Socialism. The mid-20th-century purple ink bookstamp of Aarhus University is on the front pastedowns and title pages verso. READ MORE Two volumes, octavo (213 x 132 mm), pp. [iv]-xv, [1], [1]-488; [iv]-viii, [1]-462. Mid-19th century half calf, spines ruled, decorated, and numbered in gilt, and with green morocco labels, marbled sides, edges sprinkled red. Ownership inscription ("J. Moore, 1790"), to half-titles. Bookseller's ticket of Sydney Harper & Son, Bideford, to front pastedown. Light bumping, rubbing, and scuffing, inner hinges split but holding firm, minor foxing to edges, outer leaves, and content margins, tear of 120 mm to inner margin of leaf *X of Vol. II: a very good copy. ESTC T90661; Goldsmiths' 14580; Kress B.1988; Jessop, p. 170; Tribe 36; Vanderblue, p. 38. Jürg Niehans, A History of Economic Theory: Classic Contributions, 1720-1980, 1994.