8vo (152 x 89 mm). 1p. advertisement at end. (Small tear on F2 slightly affecting lettering.) Contemporary speckled calf, twice gilt fillet border, spine in 6 compartments with 5 raised bands, lettering-piece gilt in second, with ruled in gilt (rubbing along joints).

THIRD EDITION. First published anonymously in 1705, Law's work chiefly argued that an expansion of the money supply would lead to an export surplus, which Adam Smith would later denounce. Despite this, "Money and Trade is a majestic work towering over the contemporary writings of the early eighteenth century…Law…produced a highly innovating approach to macroeconomic theorizing embracing such new discoveries as: 1) The money-in-advance requirement. 2) The circular flow of income. 3) The further analysis of international inflation in a money supply and money demand framework. 4) The formulation of the law of one price for a small open economy. These are all major theoretical contributions which...entitle Law to consideration as an exceptional monetary theorist" (Murphy, John Law: Economic Theorist and Policy-Maker, 1997, p.77). Goldsmiths 8531; Kress 5047.