The economic theory of David Hume
David Hume was an 18th century philosopher who was important in the Scottish enlightenment and laissez-faire economics that lead to Smithian free market thinking.
David Hume&#;s contribution to economics
- extended John Locke&#;s view of property rights as a center of economics
- a quantity theory of money
- international thery of the balance of trade
Hume on private property
Unlike Locke, Hume did not believe that private property was a natural right. This seems like a departure from Locke&#;s ideas, but it is not.
This is because although ownership was not a right, it was a necessary evil. Private property exists because of the fundamental economic problem of scarcity. That is, we have limited wealth and resources in this would, so it needs to be managed with the idea of private ownership. If there were unlimited goods, we would not need private property.
Unequal distribution of wealth is good
According to Hume an unequal distribution of wealth in society was a positive thing. Why? Because this is what makes people strive to improve themselves. Society gets innovation and individuals get self-actualization. Therefore, Hume like Ad
No. David Hume, “Idea of a Perfect Commonwealth” ()
It is not with forms of government, as with other artificial contrivances; where an old engine may be rejected, if we can discover another more accurate and commodious, or where trials may safely be made, even though the success be doubtful. An established government has an infinite advantage, by that very circumstance of its being established; the bulk of mankind being governed by authority, not reason, and never attributing authority to any thing that has not the recommendation of antiquity. To tamper, therefore, in this affair, or try experiments merely upon the credit of supposed argument and philosophy, can never be the part of a wise magistrate, who will bear a reverence to what carries the marks of age; and though he may attempt some improvements for the public good, yet will he adjust his innovations, as much as possible, to the ancient fabric, and preserve entire the chief pillars and supports of the constitution.
The mathematicians in Europe have been much divided concerning that figure of a ship, which is the most commodious for sailing; and Huygens,1 who at last determined the controversy, is justly thought to ha
The Enlightenment
home | th centuries index
EIGHTEENTH CENTURY ENLIGHTENMENT PHILOSOPHERS (1 of 3)
next
The Enlightenment in Britain, to David Hume | The French: Montesquieu, Voltaire, Rousseau, Encyclopedists and Nicholas de Condorcet | Germany, Leibniz and Kant
The Enlightenment in Britain, to David Hume
It was Britain's Whigs who supported constitutional monarchy and government based upon the consent of the governed. They also believed that Britain's "Glorious Revolution" of was justified in attaining such a government. Among the Whigs were wealthy businessmen and a few progressive aristocrats. In the area of religious faith, some Whigs saw themselves as having a view of God more progressive than that of the established religions, mainly the Church of England, whose Supreme Governor remained Britain's monarch.
Among the Whigs were pantheists, believing that God was everywhere. The pantheists were responding to Newtonian physics, seeing the universe as having spatial dimensions and as mechanized, working without interventions from spiritual forces, with nature not being apart from God or God apart from nature.
Also in Britain were those called Fr
Life and Major Accomplishments of Scottish Philosopher and Historian David Hume
Image: David Hume is best known for his contributions to empiricism, skepticism, and naturalism, which have influenced various fields, including philosophy, psychology, and economics. Image: A portrait of Hume created by Allan Ramsay.
David Hume’s contributions to philosophy, history, and political thought solidified his position as one of the Enlightenment’s most influential thinkers.
His works challenged established ideas about knowledge, ethics, religion, and personal identity, pushing the boundaries of what could be known through reason and experience.
Hume’s philosophical skepticism and empiricism paved the way for critical approaches to understanding human nature, inspiring generations of thinkers, including Immanuel Kant and beyond.
His legacy endures in modern discussions on knowledge, morality, science, and religion, ensuring that his influence remains a central part of the Western intellectual tradition.
David Hume was born on May 7, , in Edinburgh, Scotland, into a modestly wealthy family. His birth name was David Home, which he later changed to Hume to better align with
Biographies you may also like
Detlef roth biography of nancy Discover the biography and discography of Detlef Roth. Complete the collection, buy and sell vinyls and CDs with g: nancy.
Eddy lover biography Eddy Lover is a Panamanian reggae singer. Eduardo Mosquera is born on March 16, , in Panama City, Panama. Eddy Lover rose to international fame with his appearance on the .
Pa bailar tijuana julieta venegas biography Julieta Venegas es hija de padre mexicanos. Tiene cinco hermanos, entre ellos su gemela, siendo ella la única que se dedicó al mundo musical. Vivió toda su infancia en Tijuana, Baja .
Vijaya naresh biography of martin Born Naresh Krishna Murthy and also known as Vijaya Naresh, he is the son of K.S. Murthy and film actress and director Vijaya Nirmala. Between his marriages to Rekha Supriya and Ramya Missing: martin.
Soin cheveux afro biography En suivant ces conseils et en adaptant votre routine de soins capillaires aux besoins spécifiques de vos cheveux afro, extra secs, vous pourrez maintenir des cheveux en .
Rabs vhafuwi biography of donald Thank God for Life Rabs Vhafuwi LABEL: FreezeTheMoment Productions GENRE: Afro House RELEASED: DOWNLOAD SIZE:: 15,98 MB TRACKS 1 Rabs Vhafuwi – Missing: donald.