Of Money And Other Economic Essays(1st Edition)
Authors:
David Hume
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ISBN: 979-8854041751
Book publisher: Independently published (July 28, 2023)
Of Money And Other Economic Essays 1st Edition Summary: David Hume is known for his philosophical writings, but he also wrote on politics, history, and economics. This eBook contains 7 economic essays which were first published in Hume's Political Discourses (1752) and republished in Essays and Treatises on Several Subjects, Volume 1 (1758, 1777). One essay has been praised by the Nobel-Prize-winning economist, Paul Krugman, who said in his newspaper column:"... Hume also helped found economics: his 'Of the Balance of Trade', published 34 years before The Wealth of Nations, was arguably the first example of modern economic reasoning, based on what amounts to a stylized model, albeit one without any equations or diagrams." (New York Times, 8 May 2011, "Hume Day".) ... "You could argue that modern economics really began with David Hume’s 'Of the Balance of Trade', whose core is a gloriously clear thought experiment...." (ibid., 2 Feb 2011, "Models, Plain and Fancy".)Adam Smith (1723-1790), the author of The Wealth of Nations (1776), is commonly considered the "father of modern economics", but Hume pre-dated Smith in that regard. Both were Scottish philosophers of the Scottish Enlightenment, and although Hume was a decade older than Smith, they became lifelong friends after they met in 1750.
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