(ECONOMICS) Ricardo David On the Principles of Political Eco

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(ECONOMICS.) Ricardo, David. On the Principles of Political Economy, and Taxation . . . Second Edition. 8vo, 19th-century 1/4 tan calf gilt, spine darkened and scuffed, extremities worn with some exposure; all edges stained yellow; 2 pages publisher's adverstisements at end; bookplate to front pastedown; internally quite clean. London: John Murray, 1819

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A classic in the literature of political economy, expounding the doctrine that in freely competitive trade the labor expended in production determines the exchange value of commodities. "Ricardo saw the study of economics as a pure science whose abstractions were capable of quasi-mathematical proof. Although his theorems remain hypothetical, his deductive methods have proved of great use in the elementary analysis of economic problems, and in the subjects which are capable of his rigid analysis, currency and banking, it has proved of lasting value"--Printing and the Mind of Man 277 (1817 original edition). With the armorial bookplate of the politician Henry Drummond (1786-1860), who "though accustomed to attack the political economists . . . in 1825 founded the professorship of political economy at Oxford. He was an enthusiastic supporter and one of the founders of the Irvingite church, in which he held the rank of apostle, evangelist, and prophet" (DNB).