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ALLAIS, Maurice.
Économie & Intérêt;
Présentation nouvelle des problèmes fondamentaux relatives au rôle économique du taux de l'intérêt et de leurs solutions.
First edition, presentation copy to his former pupil Gerard Debreu, inscribed by the author at the head of the first title, and with Debreu's ownership inscriptions to each front free endpaper. An outstanding presentation between two Nobel economics laureates: Maurice Allais (1911-2010), 1988 winner for his pioneering contributions to the theory of markets and efficient utilization of resources, to Debreu (1921-2004), 1983 winner for having incorporated new analytical methods into economic theory and for his rigorous reformulation of general equilibrium theory, much of which work elaborated on Allais's. The two men were working together in the Centre National de la Recherche Scientifique in Paris at the time of publication, where Allais was director of a research unit and Debreu was an assistant. Economie et Intérêt is Allais's second major publication, a massive work on capital and interest which has formed the basis for the so-called "golden rule of accumulation". This states that to maximise real income, the optimum rate of interest should equal the growth rate of the economy. Allais did not publish in English until late in his career and as a result was slow to receive the international recognition that was his due: Debreu beat his former teacher to the Nobel prize in 1983 after he became an American citizen.
2 volumes, octavo. Original printed paper wrappers, neatly rebacked to style, small portion at head of first front wrapper renewed without affecting printed area. Custom cloth solander case. Wrappers and endleaves evenly browned, a good copy.
