Colonization of South Australia.

London: Longman, Rees, Orme, Brown, Green, and Longman,, 1835. An ideal solution to the Malthusian overpopulation problem First edition. Robert Torrens (1780-1864), an Irish-born political economist, MP, and newspaper publisher, played a prominent role in the colonization of South Australia. He here proposes colonization to solve the problem of overpopulation and enrich the mother country. "Torrens had a significant influence on the theory and practice of colonization. Along with most of the later classical economists he rejected the Smithian view that colonies were of no economic benefit to the colonial power. Much of the later classical case for colonies was based on the view that colonies would provide profitable investment outlets to offset a declining rate of profit at home. Torrens used this argument in some of his later writings but his main argument was that colonies were an ideal solution to the Malthusian overpopulation problem. In this view he was undoubtedly influenced by his interpretation of the causes of Irish poverty - a country incidentally where Torrens was born and in general its problems had a profound effect on his thinking... He [also] advocated systematic colonization with the price of land set sufficiently high that large units of capital would have to be amassed before the immigrant labourers became independent farmers" (New Palgrave IV, 660). "This somewhat lengthy book, whose title and general appearance would suggest something written purely ad hoc for the purpose of forwarding the policies of the Colonization Commission for South Australia, must in fact rank as one its author's major contributions to general economics. Its occasion indeed was the desirability of defending at length the projects of the Commissioners. But in the course of the apologia there occur important expositions of the Ricardian theory of distribution, the theory of Comparative Costs, the general theory of colonization and a form of over-production theory in some respects anticipating modern stagnation theories." (Robbins). Octavo (222 x 140 mm). Original blue boards, grey paper spine, printed paper spine label, untrimmed. Housed in a custom half morocco and cloth clamshell box. Folding colour frontispiece map, 16-page publisher's catalogue bound at front. Small circular stamp of Webster Collection to rear free endpaper, engraved armorial bookplate of Sir William Molesworth on front pastedown. Front joint split but cords holding firm, spine ends chipped, grey paper and printed label chipped in places, rear board with vertical crease, still sound. Folding map a little crinkled in the gutter, slightly offset onto title De Vivo 50; Ferguson 2056; Goldsmiths' 29034; Kress C.4051; Robbins, Robert Torrens and the Evolution of Classical Economics 36; Sraffa 5920.