FIRST ISSUE, EXCEEDINGLY RARE. WALRAS, ANTOINE AUGUSTE. 1801-1866. De la nature de la richesse e...

FIRST ISSUE, EXCEEDINGLY RARE. WALRAS, ANTOINE AUGUSTE. 1801-1866. De la nature de la richesse et de l'origine de la valeur. Paris: Alexandre Johanneau, 1831. 8vo (198 x 122 mm). Calf-backed marbled paper boards, antique. Custom cloth folding case. Provenance: Stanley C. Wisniewski (pencil inscription). THE VERY RARE PARIS FIRST EDITION OF ANTOINE WALRAS'S IMPORTANT WORK, CONTAINING THE SEEDS FOR HIS SON LEON'S MARGINAL UTILITY THEORY. In this landmark work, Walras rejects the extant theories of value (including utility, labor and cost of production) and for the first time posits scarcity (rareté) as the source of value, relative to human wants. This idea was adopted by his son Leon, who used it as a point of departure in arriving at his revolutionary theories of marginal utility. 'A. A. Walras was one of the first economists who perceived that value was not determined by utility. He was led to the study of economics from the study of the theory of property ... there are many passages in his writings in which he appears to be on the point of enunciating in precise language the more correct views that are now associated with the names of his son Léon Walras and Jevons' (Palgrave). The work was issued in Paris and Eyreux in 1831, and then re-issued in Paris the following year under a new imprint. Goldsmith 26693; Kress C-2997. For further information on this lot please visit Bonhams.com For further information about this lot please visit the lot listing