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    The Leading Economic Textbook for the Second Half of the Nineteenth Century

    John Stuart Mill. Principles of Political Economy. With Some of Their Applications to Social Philosophy. London: John W. Parker, 1848. First edition of Mill's best-known work. Two octavo volumes. xvi, 593, [1], [1, list of author's works], [1, blank], [4, publisher's ads]; [xvi], 549, [1], [2, publisher's ads] pages. Publisher's vertically-ribbed blue-green cloth with blind-stamped borders, printed paper spine labels, yellow-coated endpapers. Spines slightly browned, paper labels browned and chipped at edges. Some rubbing to boards. Hinges starting (yet still quite solid), a few gutters overopened. Some pencil notes and markings. Bookplate and bookseller's ticket on both pastedowns. Previous owner's neat signature on both front free endpapers. Still, a fine set, not usually found this clean.

    In this book, Mill discusses production, distribution, exchange, the influence of progress in society on production and exchange, and the influence of government. "However, the Principles is almost equally well remembered, becoming the leading economic textbook in the English-speaking world for the rest of the century. It was intended to modify the abstract and sometimes cold-hearted classical political economy [i.e. such as Ricardi and Adam Smith]. Although his introduction of an historical method did not advance the subject greatly, his perception of the limits to the applicability of abstract-deductive analysis was important" (Blaug, Who's Who in Economics).

    MacMinn, Hainds, & McCrimmon, page 69. Printing and the Mind of Man #345 (note). Einaudi 3907. Schumpeter page 450. From the James and Deborah Boyd Collection.

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    11th Wednesday
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