David Ricardo, 1817

RICARDO, David (1772-1823). On the Principles of Political Economy, and Taxation. London: John Murray, 1817.

First edition of Ricardo’s fundamental contribution to the science of economics, and the first systematic approach to the subject. In this work, Ricardo address the "principal problem in Political Economy," defined as the determination of the laws which regulate "the natural course of rent, profit, and wages" over time. He also expands upon ideas put forward in Adam Smith’s Wealth of Nations, 1776, to outline a newly-developed labor theory of value, as well as theories on international competitive advantage and on the effect of taxation. "Ricardo was, in a sense, the first 'scientific' economist" (PMM). Goldsmith 21734; Kress B7029; PMM 277.

Octavo (215 x 137mm). (Some pencil notes on p. 1, small fore-edge stain in G gathering.) Contemporary blind-ruled calf (old rebacking and repair to corners, pastedowns renewed, some overall rubbing). Modern folding box. Provenance: The Society of Writers to the Signet (ex-libris on both covers).