Physiocratie, ou constitution naturelle du gouvernement le plus avantageux au genre humain.

Leiden: sold in Paris by Merlin,, 1768. The bible of the Physiocrats First edition, Leiden issue as usual, of the book that gave the Physiocrats their name, one of the most important works on political economy prior to The Wealth of Nations. Physiocracie compiles Quesnay's major writings, offering the complete Physiocratic doctrine in a single work. François Quesnay (1694-1774) was the court physician to Louis XV, and his notion of a circular flow of income throughout the economy was influenced by the contemporary discovery of blood circulation through the human body. He believed that trade and industry were not sources of wealth, and instead argued that the real economic movers were agricultural surpluses flowing through the economy in the form of rent, wages and purchases. Quesnay argues that regulation impedes the flow of income throughout all social classes and therefore restricts economic development. Taxes on the productive classes, such as farmers, should be reduced in favour of rises for unproductive classes, such as landowners, since their luxurious way of life distorts the income flow. Adam Smith described Quesnay as "ingenious and profound, a man of the greatest simplicity and modesty", while pronouncing his system to be "with all its imperfections, perhaps the nearest approximation to the truth that has yet been published upon the subject of political economy" (cited in Rae, p. 216). Physiocratie gathers together, under the editorship of Pierre Samuel Dupont de Nemours, seven essays by Quesnay, each of which had originally appeared in the Journal de l'agriculture under Dupont's editorship. It is preceded by a long introductory "Discours de l'éditeur"; the second volume includes his own commentary and analysis. Quesnay's essays comprise: a) Le droit naturel. b) Analyse du Tableau Économique. c) Observations importantes. d) Maximes générales du gouvernement économique d'un royaume agricole. e) Problème économique. f) Dialogues sur le commerce, et sur les travaux des artisans. g) Second problème économique. A very small number of copies were initially issued with a fictitious Peking imprint. The remainder were withdrawn due to an offending passage on leaf Giv (pp. 103-4), and reissued with the Leiden title page and the offending passage cancelled as here. Altogether there are eight leaves in cancelled state (g1, B3, G4, L7, L8, N4, N5, P2). Two parts in one vol, octavo (188 x 120 mm). Engraved frontispiece, engraved vignettes to both title pages. Continuous pagination and register. Contemporary mottled calf, spine richly gilt in compartments, with morocco lettering-piece, marbled endpapers, red edges. Engraved bookplate of Louis Jérome Raussin, doctor of medicine in Reims, to front pastedown. Light surface wear to boards, occasional light spotting; a very good copy. Books that made Europe, p. 154; En français dans le texte 163; Einaudi 4431; Goldsmiths' 10391; Higgs 4263; Kress 6548; Mattioli 2808-2809; Sraffa 4809. John Rae, Life of Adam Smith, 1895.