The Theory of Credit ... (2 volumes in three, a mixed set)
London and New York: Longmans, Green and Co. 1893-1894, 1891. Volume One: xvii, 378, [6-ads], 24 (publisher's catalog dated Aug 1893) pages; Volume Two, Part One: xxiii, [379]-748, [2-ads], 24 pages (publisher's catalog dated 1894); Volume Two, Part Two: xxxx, [519]-890, 24 (publisher's catalog with printed 6/92 at end). 8vo. All in publisher's bindings with at least partial paper spine labels remaining. A mixed ex-library se with the usual markings. Volumes one and volume two part one marked "Second edition" on the title pages, and the third physical volume (volume 2 part 2) dated 1891 with no edition stated on title page (presumably from the first edition). Occasional perforated stamps throughout, spine labels, bookplates, pockets. Textblocks sound, noting that publisher catalogues in each volume are printed on an inferior high acid paper. Bindings solid, noting that the first volume has tape reinforcement to the spine. Properly discarded. Good. Cloth. [27925]
First edition was published starting in 1889.
"Macleod's principal contribution to the study of economics consists in his work on the theory of credit, to which he was the first to give due prominence. A major feature of his work was to create a theory of money starting from a theory of credit instead of the usual reverse path. In The Theory of Credit he says: "Money and Credit are essentially of the same nature: Money being only the highest and most general form of Credit" (p. 82). Macleod's Credit Theory of Money influenced Alfred Mitchell-Innes and later work of the modern Chartalists. John R. Commons considered Macleod's work to be the foundation of Institutional economics." (wiki)
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