AGAZZINI, MICHELE (an Italian economist of the commencement of the 19th century), published a system of political economy not destitute of original ideas, or, at least, of an original manner of presenting old ones. He had a clear idea of what was later called by Senior and Carey the cost of reproduction, and makes it the centre of his theory of value. Every producer, according to Agazzini, obtains for his produce a price determined by the cost (in labour and abstinence) which the consumer saves ; this same law holds good for the price of commodities, of labour, and of capital. The law of supply and demand (he says) regulates current prices, and the cost of reproduction normal value. All this is, however, explained in a language totally lacking technical precision. His most important work was first written and published by him in French under the title : La science de economy politique, ou principes de la formation, du progres et de la decadence de in richesse, et application de ces principes a l'ad.