{"product_id":"lauderdale-inquiry-nature-causes-public-wealth-edinburgh-1804-125292","title":"An Inquiry into the Nature and Origin of Public Wealth,","description":"\u003ch4 class=\"srb-faux-head\"\u003efirst edition\u003c\/h4\u003eThe first edition of this important commentary on Adam Smith's \u003cem\u003eWealth of Nations\u003c\/em\u003e by the Scottish peer, James Maitland, 8th Earl of Lauderdale (1759-1830).\u003cbr\u003e\u003cbr\u003eLauderdale's \u003cem\u003eInquiry into the Nature and Origin of Public Wealth\u003c\/em\u003e is credited with being one of the first works to draw attention to the inverse correlation between public wealth and private wealth, a core tenet of Keynesian theory.\u003cem\u003e\u003cbr\u003e\u003cbr\u003e\u003c\/em\u003eIn particular, Lauderdale 'questioned Smith's theory of the relationship between labour and value, maintaining that wealth was a compound of labour, land, and capital, and value was a compound of utility and scarcity. He argued that capital was capable of harnessing productive labour to make profits by meeting market demand, and that such profits resulted only when there were no legislative restraints on commerce and no burdens, such as Pitt's sinking fund to redeem the national debt' (ODNB).\u003cbr\u003e\u003cbr\u003e\u003ci\u003eFirst edition; 8vo (21.5 x 14 cm); half-title, folding letterpress table to rear, bookplate to front pastedown, old library notes in pencil to title verso, slightly toned, with some light perimeter staining; contemporary sprinkled calf, rebacked, contrasting red morocco lettering-piece to spine; [10], 482pp.\u003c\/i\u003e\u003cbr\u003e\u003cbr\u003e","brand":"LAUDERDALE, James Maitland (Earl of).","offers":[{"title":"Default Title","offer_id":57636623876471,"sku":"125292","price":800.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0733\/4694\/1233\/files\/125292_01.jpg?v=1792774703","url":"https:\/\/shapero.com\/products\/lauderdale-inquiry-nature-causes-public-wealth-edinburgh-1804-125292","provider":"Shapero Rare Books","version":"1.0","type":"link"}