ref. 12999 — A Paris, Chez Bossange, père et fils; A Londres, chez Martin Bossange, 1820. (8), 184 pp. 8vo. Modern half morocco, marbled boards, spine gilt with gilt lettering (Ateliers Laurenchet). Teilhac, p. 376; Kress C.617; Goldsmiths 22780; Einaudi 5115; Mattioli 3231. First edition. A collection of five letters written by Say upon reading Malthus' Principles of Political Economy in defence of his own theories. Its success was considerable, an English translation was published a year later. Fundamental for the discussion between the classical approach and the opponents. Later Keynes would side with Malthus.Schumpeter remarked judiciously: 'Say's work is the most important of the links in the chain that leads from Cantillon and Turgot to Walras.' Say opened up new paths, but later authors followed them with more succes than he. This was the case with the members of the marginalist school -Carl Menger, Stanley Jevons, and especially Léon Walras- who were able to employ the notion of utility in a much more precise and scientifically valid manner than their common precursor (Walras tended to minimize his debt to Say, but it was nevertheless important). Say is seen primarily as the author of the law of the markets, one of the favorite butts of Keynesian and neo-Keynesian criticism, and this 'law', interpreted and misinterpreted as it has been, may remain his chief title to fame. But perhaps he will be remembered for his power to build on established intellectual traditions and to stimulate other thinkers: there lay his true merit, which only time will confirm (Gaston Leduc in IESS). - Somewhat spotted, especially first leaves.
