Principles of Political Economy Considered with a View to their Practical Application

London: John Murray, 1820. First Edition.. Recent full calf in a contemporary style.. Very good with some minor spotting at points.. 8vo, vi, [1] - 601, [1 - blank] pp.

Malthus published this book at a time when Ricardo's ideas were established orthodoxy. The Principles is the first complete statement of his economic theories. In it the theory of rent is clearly stated and the three main points of debate with Ricardo addressed. The principle of the value theory based on labor costs, demand affects value in a limited way, finally that profits are determined by the cultivation and fertility of the least arable land, were central to Ricardo. Malthus challenges each of these ideas and what he termed Ricardo's ' new school of political economy ' . This is Malthus' intellectual manifesto with important sections on the theory of rent, employment, wages, and the question of value. A key book in the development of modern economic theory. Kress C-577; Einaudi #3680; See Palgrave for a lengthy entry.