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RAE, John.

Statement of some new Principles on the Subject of Political Economy exposing the Fallacies of the System of Free Trade, and of some other Doctrines maintained in the "Wealth of Nations."

Hilliard, Gray, and Co., Boston , 1834 Stock Code: 107939
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First edition, scarce and often overlooked, of "one of the highlights of classical economic theory" (K. H. Hennings in The New Palgrave). A native of Scotland, Rae (1796-1872) emigrated to Canada, and thence to America, where this, his only publication, was written. Originally intended as an appendix to a larger work on the Natural History and Statistics of Canada, Rae "succeeded in creating a theory of capital to which Böhm-Bawerk and others were indebted; in his lifetime some small recognition from J. S. Mill was almost the only notice he obtained" (Who's Who in Economics), although Fisher, Wicksell and Åkerman were all subsequently familiar with his work, Fisher dedicating one of his main works to Rae. His work "also influenced Schumpeter's (1911) concept of economic development, and Veblen's (1899) notion of conspicuous consumption" (Hennings, ibid.).

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Octavo (250 x 150 mm). Original pebble grain cloth-backed drab boards, neatly rebacked, new printed spine label, fore and lower edges uncut, preserved in a custom made green morocco backed cloth box.


Printed book label of Amos Lawrence of Boston and the library of Maryville College, Tennessee, to front pastedown. Corners worn, one or two splash marks to boards, inner hinges strengthened. Occasional light spotting and one short marginal tear; a very good copy of a scarce book.


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