LANDMARK OF CLASSICAL ECONOMICS. MILL, JOHN STUART. 1806-1873. Principles of Political Economy w...

LANDMARK OF CLASSICAL ECONOMICS. MILL, JOHN STUART. 1806-1873. Principles of Political Economy with some of their applications to social philosophy. London: John W. Parker, 1848. 2 volumes. 8vo (220 x 135 mm). Volume 1 without half-title, 1 p ad leaf; volume 2 with 2 pp ads at rear. Recent red half-morocco, gilt, top edge gilt, custom cloth slipcase. Provenance: Hon. Stanley C. Wisniewski (pencil inscription) to each volume in the lot. FIRST EDITION OF ONE OF THE MOST IMPORTANT ECONOMIC WORKS OF THE NINETEENTH CENTURY, 'the undisputed bible of economic doctrine' (Roll, p 353). In his Principles Mill both assimilated economic thought to the time, and expanded upon it. Mill provides a more fulsome explanation of supply and demand analysis than most at that time, and his theory of International Values transcends the free trade arguments of Ricardo, introducing the equation of reciprocal in recognizing the elasticity of demand in the distribution of the gains from trade. Further, Mill's work applied these theories and ideas to the real world. 'The design of the book is different from that of any treatise on Political Economy which has been produced in England since the work of Adam Smith ... [which] invariably associates the principles with their applications ... For practical purposes, Political Economy is inseparably intertwined with many other branches of social philosophy' (Preface). 'There had been no equally comprehensive treatise, especially none that paid so much attention to practical applications, since the Wealth of Nations' (Schumpeter, History of Economic Analysis, p 530). WITH: Principles of Political Economy with some of their applications to social philosophy. SECOND EDITION. London: John W. Parker, 1849. 2 volumes. 8vo. Bound without ads. Modern red morocco-backed cloth boards, custom cloth folding case. SCARCE SECOND EDITION, which makes significant additions to the sections on the future of the working class and socialism, an indication of his concerns for the welfare of the laboring class and evidence of Mill's movement towards becoming what Schumpeter describes as an 'evolutionary socialist'. (See Schumpeter, History of Economic Analysis, pp 531-2). Goldsmith 35525; Kress C-7500. For further information on this lot please visit Bonhams.com For further information about this lot please visit the lot listing