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Lectures on Political Economy, delivered in Trinity and Michaelmas Terms, 1833.

Lectures on Political Economy, delivered in Trinity and Michaelmas Terms, 1833.

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Lectures on Political Economy, delivered in Trinity and Michaelmas Terms, 1833.

by LONGFIELD,Mountifort

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About This Item

Octavo, contemporary cloth backed boards with loss of original paper to boards, printed paper label rubbed, pp.xii, 267, without the half title, a good copy.

Blaug: Great Economists before Keynes, pp.135-137. Seligman: On some neglected British Economists, 1903, pp.46-52. Schumpeter: History of Economic Analysis, pp.464-465. See L.S.Moss: Mountifort Longfield: Irelands first Professor of Political Economy, 1976. Kress C3771. Goldsmith 28434. Not in Bradshaw Collection of Irish Books, Cambridge University Library.

FIRST EDITION by Samuel Mountifort Longfield, who was Ireland's first Professor of the Whateley Chair of Political Economy at Trinity College, Dublin.

"Longfield's general theory of value is noteworthy in that he not only puts very lucidly the influence of cost of production upon the supply side of the equation between supply and demand, but calls attention to the demand side as well...Longfield uses profits in the sense of general returns to capital, and that his theory of profits is really a theory of interest...In his theory of wages also he marks a decided advance...'the wages of the labourer depend upon the value of his labour, and not upon his wants, whether natural or acquired.'" Seligman

"Longfield's Lectures is an amazingly original if somewhat confusingly written book, which sketches a subjective theory of value and a marginal productivity theory – all this in 1834, 11 years after the death of Ricardo. Longfield had the idea of marginal demand price and favoured utility rather than labour as the basis of exchange value but he failed, like everyone before him, to discover the concept of marginal utility as the link between utility and demand." Blaug

"Longfield's merits may be summed up by saying he overhauled the whole of economic theory and produced a system that would have stood up well in 1890....his argument against the labour theory of value is one of the best ever penned...he anticipated the essentials of Bohm-Bawerk's theory (by making the 'roundabout' process of production the pivot of his analysis of capital). And he presented a reasonably complete and reasonably correct theory of distribution based upon the marginal productivity principle, not only the marginal cost principle..." Schumpeter.

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Details

Bookseller
Hamish Riley-Smith Rare Books GB (GB)
Bookseller's Inventory #
biblio22
Title
Lectures on Political Economy, delivered in Trinity and Michaelmas Terms, 1833.
Author
LONGFIELD,Mountifort
Book Condition
Used - Good
Quantity Available
1
Edition
Longfield’s remarkable lectures – a ‘neglected
Publisher
William Curry, Jun, and Company
Place of Publication
Dublin
Date Published
1834

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About the Seller

Hamish Riley-Smith Rare Books

Seller rating:
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Norwich, Norfolk

About Hamish Riley-Smith Rare Books

Obituary: Book dealer Hamish Riley-Smith (1941-2020), as published in The Antique Trade Gazette
Rare book specialist Hamish Riley-Smith, who died on August 10, did not originally intend to become a dealer.
He went to Trinity College Dublin, where he read economics and met our mother Brigitta (Gita) von Wagner. He planned to work in the family brewing business, John Smith's, and spent seven years learning the craft at Whitbread's. But after all the family interest in John Smith's was sold in 1972, he looked for a new career.
In 1974 he started Hamish Riley-Smith Rare Books. He had no formal training in the book business, other than an acute awareness of business and a degree in economics. He started, in his own words, as a runner, taking one book to another dealer and making a small margin.
Hamish quickly realised this was not for him and started to focus on Arabic and economic books and the social sciences. Through knowledge and research he built up a strong and friendly working relationship with the Japanese, travelling to Japan often. He also traded in Arabia, the US and Europe.
Sacks of catalogues
We can remember how sacks of catalogues would leave the house and go off to museums and institutions across the world, and answers would come back via telex. This was a world before the internet, mobile phones and faxes and computers were only just coming in.
Among his proudest sales were the 14th century Qur'an manuscript of Mameluk Sultan Al Malik Al Nasir Muhammad (pictured here); The Papers of Sir Roy Harrod; The library of Sir John Hicks; The Betjeman Library; typescript/manuscript of Ludwig Wittgenstein's Tractus Logico Philosophicus; The Felibriges Library of Musée Theodore Aubanel, Avignon; as well as collections of Isaac Newton; John Locke; Thomas Hobbes; Shakespeare; William Petty; Robert Owen and Adam Smith.
He was resolute in his independence and had many friends and colleagues in the book business, but he never did a book fair ("I am not a book fairy") and refused to join any trade associations.
He will be remembered by the family as a loving husband, father and grandfather, and a great source of fun and interest; for Hamish, above all, family came first. His business will continue to be run by his wife Gita and two sons, Damian, director of Paragraph Publishing, and Crispian, director of Crispian Riley-Smith Fine Arts Ltd.

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