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MALTHUS, Thomas (1766-1834). Principles of Political Economy Considered with a View to Their Practical Application. London: William Pickering, 1836. 8vo. liv, 446 pp. Original publisher’s full mauve cloth binding (rebacked preserving most of the original spine, later printed paper label on spine, later endleaves, some occasional soiling, foxing in text, previous owner’s inscription on front blank). Near fine. FIRST PICKERING EDITION, THE RARE SECOND REVISED AND EXPANDED EDITION OVERALL. The first edition was published in 1820. This is the second edition of 1836. It is one of the major works in the classical school of political economy along with Smith’s Wealth of Nations and Ricardo’s Principles of Political Economy.’’ This second revised and expanded edition, enlarged with additions from Malthus’s own manuscript, includes for the first time, a biography of Malthus, and was published two years after the author’s death. Included is William Otter’s important Memoir. This is his second most famous treatise after his essay on population. Includes an early analysis of Ricardo and Smith among others. Malthus’s chief contribution to general economic theory, in which he explains in particular his differences with Ricardo. “Ricardo’s work started with the Wealth of Nations and re-coined the latter’s theoretical contents by a method that centered on the concept of value. Exactly the same thing is evidently true of the work of Malthus. Except for his theory of saving and investment, which on the face of it seems to be Malthus’s own, all the elements that enter into the analytic apparatus of that work, and even its terminological arrangements, point to the First Book of the Wealth of Nations. Only, whereas Richardo recoined the doctrine of the Wealth by means of the labor-quantity theory of value, Malthus recoined it by the means of the theory of value that Smith actually used, namely, the theory of supply and demand whereas Ricardo’s analytic apparatus is geared to the problem of distribution. Malthus geared his apparatus to the analysis of the whole economic process. Therefore, Malthus should stand in the history of analysis not only as the author of a valid alternative to Ricardo’s theory but as the sponsor (or rather as one of the sponsors) of the victorious one.” (Schumpeter).