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JENKIN, Henry Charles Fleeming.

The Graphic representation of the laws of supply and demand, and their application to labour. [in:] Recess Studies ... edited by Sir Alexander Grant.

Edinburgh, Edmonston & Douglas, 1870. 8vo, pp. [viii], 409, [1] blank, 20, [4] publisher’s advertisements; with the armorial bookplate of Sir O. H. P. Scourfield to the front pastedown; very occasional light spotting, else a good copy, complete with the 20-page publisher’s catalogue, uncut in the original publisher’s cloth, remains of paper label to front cover, spine lettered gilt, lightly rubbed at extremities. First edition of this important paper (pp. 151–185), in which Jenkin (1833–1885) ‘analysed fully the determination of market price using diagrams to present the supply and demand functions in the form of intersecting curves. Jenkin specifically noted that in the long run cost of production chiefly determines the price of manufactured goods, but stressed “how much the value of all things depends on simple mental phenomena, and not on laws having mere quantity of materials for their subject”’ (The New Palgrave II, 1007).Mattioli 2972.

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