$584
Ricardo, David (1772-1823) On the Principles of Political Economy and Taxation. Georgetown, Washington, D.C.: Joseph Milligan [printed by Jacob Gideon], 1819. First American edition, octavo, bound in full contemporary sheep, spine dry and darkened, label chipping with loss, some foxing to contents, 8 1/4 x 5 in. "The fundamental ground-work of the Principles is based on the theory that, given free competition in trade, the exchange value of commodities will be determined by the amount of labour expended in production: not a wholly original thesis, nor one capable of absolute expression, but one which was given new force by the theory of distribution with which Ricardo reinforced it. This has been summarized thus: 'the demand for food determines the margin of cultivation; this margin determines rent; the amount necessary to maintain the labourer determines wages; the difference between the amount produced by a given quantity of labour determines profit'" (PMM 277).
Auctioneer:
Skinner
Date:
2016-10-30
