Wealth and Progress. A Critical Examination of the Wages Question and Its Economic relation to Social Reform.
GUNTON George (1888.)
£350.00 [First Edition]
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First edition. Small 8vo. xxiii, , 382, [2, publisher's advertisements] pp. Original brick red pebble grain cloth, spine lettered and ruled in gilt, covers with single blind fillet borders, edges untrimmed, black coated endpapers (some occasional light foxing, otherwise a near fine, notably bright copy). London, Macmillan and Co.
George Gunton (1845-1919) was an influential member of the American labour movement and editor of Gunton's Magazine. In Wealth and Progress, Gunton developed a 'demand-side' theory of economic growth that ran counter to the wage-fund doctrine of classical economics. The central tenant of Gunton's thought was that "consumption is the economic basis of production" and that capital accumulation was dependent on wages and working-class consumption, rather than investment.
Provenance: bookplate of Sam de Wolff (1878-1960), Dutch economist and a leader of the Zionist faction of the Social Democratic movement, engraved by the Dutch illustrator and political satirist Albert Hahn Jr. with the maxim Strudenskracht Door Wetensmacht' ('Knowledge Empowers Struggle'), to front pastedown.
Stock Code: 235145