History of Economic Thought - British Enlightenment - David Hume

David Hume

Main article: David Hume

David Hume (1711–1776) agreed with North's philosophy and denounced mercantile assumptions. His contributions were set down in Political Discourses (1752), later consolidated in his Essays, Moral, Political, Literary (1777). Added to the fact that it was undesirable to strive for a favourable balance of trade it is, said Hume, in any case impossible.

Hume held that any surplus of exports that might be achieved would be paid for by imports of gold and silver. This would increase the money supply, causing prices to rise. That in turn would cause a decline in exports until the balance with imports is restored.

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David Hume Of Godscroft - Life
... He was the second son of Sir David Hume or Home, seventh baron of Wedderburn, Berwickshire ... On the recovery of his brother, Hume for a time continued to manage his affairs, but in 1583 he was residing as private secretary with his relative ... During the exile of the Ruthven party at Newcastle, Hume was in London, ostensibly studying, but actively interesting himself in Angus and his cause ...
Simulation Hypothesis - Origins - Later Thinkers - David Hume
... Hume (1711–1776) argued for two kinds of reasoning probable and demonstrative (Hume's fork), and applied these to the skeptical argument that reality is but an ... Hume concludes that there is no solution to the skeptical argument except, to ignore it ...
David Hume - Works
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David Hume (explorer)
... David Hume (1796 Berwick, Scotland - 1 February 1864 Grahamstown) was a Scottish-South African explorer and big-game hunter ... David Hume was born in Berwick, Scotland and went to South Africa with Benjamin Moodie's Scottish settlers in 1817 ... Hume heard reports of the existence of Lake Ngami, but in 1836 lacked the funds to mount an expedition ...

Famous quotes containing the words hume and/or david:

    Reason is, and ought only to be, the slave of the passions, and can never pretend to any other office than to serve and obey them.
    —David Hume (1711–1776)

    The outward is only the outside of that which is within. Men are not concealed under habits, but are revealed by them; they are their true clothes.
    —Henry David Thoreau (1817–1862)