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Papers Relating to Political Economy.

Published: London: Published on behalf of the Royal Economic Society by Macmillan and Co., Limited, 1925

Stock code: 89905

Price: £375

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First edition, first impression. The three volumes constituting practically all of Edgeworth’s work in economic theory. “Edgeworth’s contribution to economics left their mark on the theories of monopoly, foreign trade, taxation and production. In production theory, earlier authorities had generally employed the concept of an average product to demonstrate diminishing returns. It was Edgeworth who insisted on the distinction between the average and the marginal product and who understood the significance of the latter in connection with the identification of the maximum position” (Spiegal). “Edgeworth has always been regarded as an exceptionally distinguished ‘all-rounder’, making major contributions to both economic and statistical theory to a degree that no one else, with the possible exception of Harold Hotelling, has ever approached. Since 1960, however, serious reappraisal of the depth and subtlety of those contributions to each discipline has shown decisively that he was indeed one of the truly great economists of his time, and one of its greatest statisticians” (ODNB). With owner signature to front pastedown in all volumes.

3 volumes, large octavo. Original dark green-blue cloth, two narrowly spaced and two widely spaced rules in blind at top and bottom of front and rear boards continued in gilt to spine, gilt titles to spine. Very light rubbing to covers, corners slightly bumped, lightly tanned edges and endpapers. First quire in Volume I slightly pulled and with minor tear, slight wear at ends of spine, lower front and rear joint, lower corners of boards. Small closed tear at head of spine of Volume II. Light wear to ends of spine of Volume III. A very good set.

Bibliography: Bateson p. 16; Schumpeter p. 830.

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