This edition contains the thirty-nine essays included in Essays, Moral, and Literary, that made up Volume I of the 1777 posthumous Essays and Treatises on Several Subjects. It also includes ten essays that were withdrawn or left unpublished by Hume for various reasons. The two most important were deemed too controversial for the religious climate of his time. This revised edition reflects changes based on further comparisons with eighteenth-century texts and an extensive reworking of the index. - Publisher.

Although Considered By A Few Critics That The Sentence Structures Of The Book Are Quite Incomprehensible And Almost Unbearable To Read, The Book Is An Essential ...

The Machiavellian Moment is a classic study of the consequences for modern historical and social consciousness of the ideal of the classical republic revived by Machiavelli and other thinkers of Renaissance Italy. J.G.A. Pocock suggests that Machiavelli's prime emphasis was on the moment in which the republic confronts the problem of its own instability in time, and which he calls the "Machiavellian moment." After examining this problem in the thought of Machiavelli, Guicciardini, and Giannotti, Pocock turns to the revival of (...) republican thought in Puritan England and in Revolutionary and Federalist America. He argues that the American Revolution can be considered the last great act of civic humanism of the Renaissance. He relates the origins of modern historicism to the clash between civic, Christian, and commercial values in the thought of the eighteenth century. (shrink)

David Hume's monetary theory has two standard yet inconsistent readings. As a forefather of the quantity theory of money, Hume sees money as neutral. As an inflationist, Hume sees an active positive role for monetary policy. This paper reads Hume consistently instead, by showing that for Hume money is endogenous and demand driven. Hume would read the money equation as reverse causation and the co-presence of inflation and output growth as driven by demand. The 18th century knowledge of monetary theory (...) corroborates this reading. (shrink)

George Berkeley (1685 - 1753), also known as Bishop Berkeley, was a philosopher. His primary philosophical achievement was the advancement of a theory he called "immaterialism" (later referred to as "subjective idealism" by others).

The Spirit of the Laws is, without question, one of the central texts in the history of eighteenth-century thought, yet there has been no complete, scholarly English-language edition since that of Thomas Nugent, published in 1750. This lucid translation renders Montesquieu's problematic text newly accessible to a fresh generation of students, helping them to understand quite why Montesquieu was such an important figure in the early enlightenment and why The Spirit of the Laws was, for example, such an influence upon (...) those who framed the American constitution. Fully annotated, this edition focuses attention upon Montesquieu's use of sources and his text as a whole, rather than upon those opening passages towards which critical energies have traditionally been devoted, and a select bibliography and chronology are provided for those coming to Montesquieu's work for the first time. (shrink)

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Contemporary economists deem virtually every piece of reasoning and argumentation in economics a model, forgetting that there may well be other conceptual tools at hand. This article demonstrates that David Hume used thought experiments to make some remarkable breakthroughs in monetary economics, and that this resolves a longstanding debate about an apparent inconsistency in Hume, between the neutrality and non-neutrality of money. In the actual world, money is never neutral for Hume; only in thought experiments does a sudden growth in (...) the money stock result in an identical and hence neutral increase in the price level. Thought experiments isolate tendencies but do not lend themselves to direct confirmation. Moreover, Hume’s dislike for the French model builders, Melon and Quesnay, captures an important juncture in mid eighteenth-century economic discourse regarding the warranted level of abstraction and of idealization. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:DAVID HUME AND EIGHTEENTH CENTURY MONETARY THOUGHT: A CRITICAL COMMENT ON RECENT VIEWS To the argument that it makes little difference what precise roles were played by various actors in a great movement, and that the busy modern reader cannot be bothered to go behind the scenes of popular successes, the answer is simple: it is on the whole better to call men and events by their right names; (...) it is on the whole wiser not to make false diagrams of the way things happen. What, after all, are we so busy about? Jacques Barzun, Darwin, Marx, Wagner The praise that has been bestowed upon David Hume's monetary thought in recent years would suggest that however little attention is paid to the history of economic thought otherwise, no one is averse to a long and respectable lineage.1 However, it is just when an individual is singled out and focused upon that the most misleading ideas can arise; furthermore, when the scholars who provide this attention are renowned authorities in specialized fields, their views receive very widespread circulation. It would not be easy to find a contemporary student of the eighteenth century who would assert that the mercantilists believed real wealth to consist of gold and silver, yet the late Harry Johnson made just such an assertion not very long ago, and the number of economists who read Harry Johnson must far outnumber those who read eighteenthcentury scholars.2 By the same token, the liberal praise bestowed upon those credited with having "demolished" mercantilism, such as David Hume, requires careful scrutiny. A recent article by Dietrich Fausten3 has shown how different Hume's analysis 157 actually was from modern monetarism, despite the many attempts to designate Hume the father of monetarist doctrines, and this critical approach can be taken farther. Before turning to an examination of Hume's position, it may be worthwhile to make a methodological point. There are those who consider delving into indebtedness and priorities "antiquarian" (but not if their own contributions are in question!). After all, they claim, Hume's views are there in black and white, he wrote elegantly and his philosophical merits are widely admired; does it really matter if Hume did not acknowledge his sources, that he was somewhat inconsistent, or that he caricatured his opponents? Surely some compassion is appropriate for someone who wrote at the very dawn of "economic science." This is to miss the point of such historical scrutiny altogether. If compassion were required, why should it be bestowed upon Hume, rather than on such predecessors as Gervaise, Cantillon or Vanderlint? Scholars employ certain critical standards in judging published work; let us employ these standards to Hume and if sympathy be required, let it follow and not precede the analysis. II The following passage is certainly one of the most frequently quoted in the history of economics but its importance for our argument makes repetition necessary. Suppose, that all the money of Great Britain were multiplied fivefold in a night, must not the contrary effect follow? Must not all labour and commodities rise to such an exorbitant height, that no neighbouring nations could afford to buy from us; while 158 their commodities, on the other hand, became comparatively so cheap, that, in spite of all the laws which could be formed, they would be run in upon us, and our money flow out; till we fall to a level with foreigners, and lose that great superiority of riches, which had laid us under such disadvantages?4 Two points should be noted about the above. First, Hume assumes a sudden, large inflow of money to make his point. This is a very different thing from the small [relative to the money stock] and steady inflow advocated by the so-called mercantilists. Secondly, Hume assumes that this sudden inflow is met by instantaneous adjustment in prices. Otherwise, if the change in, say, wages attracts more labour, there is no reason why the increased money supply could not lead to a greater output and thus avoid inflation. International labour mobility was a standard feature of mercantilist thought and so it will be seen that Hume's "new" result is obtained by his... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:184 THE ECONOMIC THOUGHT OF DAVID HUME David Hume's views on economics are expressed in his Essays, Moral, Political and Literary, Part II (1752). He was a contemporary of Adam Smith and read Smith's The Wealth of Nations shortly before his death. Some commentators have suggested that Hume exercised some influence over Smith's views on economics; others are not so sure. Hume's commentators over the last 200 years have (...) emphasized his theory of knowledge, doctrine of causality and belief, theory of morals and historical writing. His views on economics have been relatively neglected. The purpose of this essay is to summarize and clarify Hume's views on economics. Commerce and Trade Hume's essay "Of Commerce" is an extension of his view of property rights. Just as government should not impair property rights, it should not impair commerce, which is the freedom to contract between consenting parties. But Hume was not a 'pure' advocate of laissez-faire. He supported the infant industry argument: A tax on German linen encourages home manufacturers, and thereby multiplies our people and industry. A tax on brandy encreases the sale of rum, and supports our southern colonies. The bulk of workers are employed either in argiculture or manufacturing. In the more primitive societies, almost everyone is employed in agriculture (husbandry), and as agricultural techniques are improved, the land becomes able to support more nonagricultural workers, including artisans and providers of luxuries as well as manufacturers. Some of these 185 surplus (i.e., nonagricultural or manufacturing) workers are sometimes appropriated by the sovereign for use in the army or navy (OC 256), which prevents them from producing luxury goods and services, and leads to a different kind of state than would exist if their labor were not so appropriated. Increases in industry, the arts and trade generally increase both the power of the sovereign and the happiness of the people (OC 260). Trade is something that is mutually beneficial -- both parties gain. Hume spends a great deal of time refuting the idea that one nation's gain is another's trade loss. Thus, trade is a win-win rather than a win-lose situation, as some modern-day mercantilists (such as Thurow fThe Zero Sum Gamel and Batra G The Great Crash of 1989l)would have us believe. Hume views everything in the world as purchased by labor, and sees labor as being caused by people's passions (OC 261). In modern language, one could say that wealth is produced either from physical or mental labor, and that it is individual incentive that causes the human action to begin in the first place. Of course, this view overlooks the fact that labor does not exist in a vacuum, but is mixed with land and perhaps capital (which can be seen as the result of accumulated labor). Exchange occurs when producers of a commodity produce more than they can consume. At that point, they trade their surplus for other goods and services (OC 261). In peacetime, the farmers' surplus goes toward the acquisition of manufactures or the cultivation of the liberal arts. In war, the surplus can go toward the support of an army or navy. The state becomes more powerful as it can produce increasingly beyond subsistence, what Hume refers to as employment beyond mere necessities (OC 186 262). But rather than encouraging the increase in state power by force, such increase is best accomplished by allowing individuals to produce as much as they want, which they will do automatically in the absence of coercion, and then appropriate part of the surplus: It is a violent method, and in most cases impracticable, to oblige the labourer to toil, in order to raise from the land more than what subsists himself and family. Furnish him with manufactures and commodities, and he will do it himself. Afterwards you will find it easy to seize some part of his superfluous labour, and employ it in the public service, without giving him his wonted return. Being accustomed to industry, he will think this less grievous, than if, at once, you obliged him to an argumentation of labour without any reward. (OC 262) Countries that engage in... (shrink)