SMITH, ADAM. An Inquiry into the Nature and Causes of the Wealth of Nations. 2 volumes. 4to, 274x214 mm, modern polished calf, gilt-lettered

morocco spine label; inner margin repair on E, and corner renewed on Yy1 in Volume 1, some scattered light foxing, but overall a very good set; armorial Woolsington bookplate, and bookplate of Viscount Mersey; 1/4 morocco cloth folding case. London: W. Strahan and T. Cadell, 1776 FIRST EDITION; with final blank in first volume, and half-title in second (not called for in first); 8 leaves (M3, Q1, U3, Zz3, 3A4, 3O4 [Vol. 1], D1, 3Z4 [Vol. 2]) on stubs. "The history of economic theory up to the end of the nineteenth century consists of two parts: the mercantilist phase... and the second phase which saw the development of the theory that the individual had the right to be unimpeded in the exercise of economic activity. While it cannot be said that Smith invented the latter theory...his work is the first major expression of it...The Wealth of Nations ends with a history of economic development, a definitive onslaught on the mercantile system, and some prophetic speculations on the limits of economic control. Where the political aspects of human rights had taken two centuries to explore, Smith's achievement was to bring the study of economic aspects to the same point in a single work. The Wealth of Nations is not a system, but as a provisional analysis it is completely convincing. The certainty of its criticism and its grasp of human nature have made it the first and greatest classic of modern economic thought" --Printing and the Mind of Man 221. Rothschild 1897.