J. A. Hobson

The Industrial System: An Inquiry into Earned and Unearned Income

Published in 1909, The Industrial System is one of J. A. Hobson's most important contributions to political economy and social thought. In this influential work, Hobson examines the relationship between earned and unearned income, industrial organization, capital, labour, and the distribution of wealth—questions that remain central to economic debate today.

Although best known for his landmark work Imperialism (1902), Hobson regarded The Industrial System as one of his principal achievements. His critique of underconsumption, inequality, and the concentration of wealth would later influence John Maynard Keynes, institutional economics, and twentieth-century discussions on capitalism, social reform, and the role of the modern state.

This is a desirable first edition, published in London by Longmans, Green & Co. in 1909. The title page bears the publisher's blind stamp "Presentation Copy," adding an interesting bibliographical feature to an already increasingly collectible work.

Historical Significance

Few economists writing in the early twentieth century anticipated the social and economic challenges of industrial capitalism as perceptively as J. A. Hobson. The Industrial System helped shape later debates on income distribution, effective demand, and the relationship between economic inequality and economic growth. Hobson's ideas profoundly influenced subsequent generations of economists and political thinkers, most notably John Maynard Keynes, while continuing to attract the attention of historians of economic thought, political economists, and scholars of public policy.

Today, the work is regarded as one of the foundational texts of progressive political economy and remains an important addition to collections devoted to economics, social philosophy, and the history of capitalism.

Condition

A very good copy in the original publisher's blue cloth with gilt lettering to the spine. Minor rubbing and a small loss at the head of the spine, consistent with careful handling over more than a century. The binding remains firm and square, with clean pages showing only light age toning. The title page bears the publisher's blind stamp "Presentation Copy." An attractive and well-preserved example of this increasingly sought-after first edition.

Bibliographical Details

Author: J. A. Hobson

Title: The Industrial System: An Inquiry into Earned and Unearned Income

Publisher: Longmans, Green & Co.

Place of Publication: London

Year: 1909

Edition: First Edition

Binding: Original publisher's blue cloth, gilt lettered spine

Presentation Copy: Yes (publisher's blind stamp)

Condition: Very Good