The Fable of the Bees

This is the extended edition including * an extensive biography and bibliography of Mr. de Mandeville The Fable of The Bees: or, Private Vices, Publick Benefits is a book by Bernard Mandeville, consisting of the poem The Grumbling Hive: or, Knaves turn'd Honest and prose discussion of it. The poem was published in 1705 and the book first appeared in 1714. The poem elucidates many key principles of economic thought, including division of labor and the invisible hand, seventy years before Adam Smith (indeed, John Maynard Keynes argues Smith was probably referencing Mandeville). It also describes the paradox of thrift centuries before Keynes, and may been seen as part of the school of underconsumption. (courtesy of wikipedia.com)