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Fundamental work in the history of economic thought

SAY, Jean-Baptiste.
Traité d'économie politique, ou simple exposition de la manière dont se forment, se distribuent, et se consomment les richesses.




Paris, L'imprimerie de Crapelet, 1803. 2 vols. 8vo. Contemporary auburn half morocco, spine gilt with beautiful tooled ornamental flowers, branches and birds, marbled boards, endpapers and edges. (4), XLVI, 528 (last blank); (4), 572 pp.

Rare and fundamental work on the French political economic concept in the Napoleontic age, by the French economist Jean-Baptiste Say (1767-1832). The work was immediately a grand succes, but several passages had to be changed at the instructions of Napoleon. When Say refused to do so the work was prohibited and wasn't republished until 1814. Eventually 32 editions were published. With this work Say offered a new point of view on the prevailing classical economic thought of that moment, and gave a very liberal analysis of the economical elements and principals, concentrating everything on the subject of the principal of production.
He was best known for his "law of markets", which postulates that supply creates its own demand. Say contributed essentially to the diffusion of Adam Smith's theories. Adam Smith (1723-1790) the famous Scottish social philosopher and political economist was and still is a towering figure in the history of economic thought. He was known primarily for his work, The Wealth of Nations (1776), being the first comprehensive system of political economy. Both works are considered as the two most popular economic texts of the first half of the 19th century.
"Esprit indépendant, généreux et optimiste, Say livre dans le Traité d'économie politique une synthèse de la pensée économique classique (Mercantilistes, Physocrates et Adam Smith)... Dans le cadre d'une doctrine essentiellement libérale, il a ordonné les élémens de l'économie en concentrant son analyse sur la production. Ayant rencontré les problèmes de la "loi des rendements décroissants" et de la théorie de "L'état stationnaire" (la fin de la progression des richesses marque le terme de la croissance démographique), il a eu l'idée de la loi des débouchés ou "loi de Say", qui élimine la baisse tendantielle des taux de profit (...) La fécondité du concept de production et la loi des débouchés ont assuré la célébrité de Say en France et à l'étranger". (Cf. Denyse Linck in: En français dans le texte).

Beautiful copy.- (Occasionally sl. browned).
Kress B.4729; Einaudi 5118; Goldsmiths 18616; En français dans le texte 207; Schumpeter, pp. 492-3; Palgrave III, pp. 357-8.

Related Subjects: Economy  France  Napoleon 

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