In defense of common sense. David Hume on ‘Is’ and ‘Ought’

David Hume on Banking and Hoarding

David Hume and Modern Economics

Hume’s contribution to modern economics is normally thought of in terms of his early statement of the quantity theory of money, and to a lesser extent his views on trade and development. At a methodological level the influence from his empiricism is commonly traced to the development of econometrics. But if we explore his philosophy more fully, we find a much richer set of ideas which can illum...

David Hume and Erasmus Darwin's Zoonomia.

Reid ’ s Defense of Common Sense

©  P. D. Magnus Thomas Reid’s reply to scepticism involves an appeal to common sense. Since he often claims that no defense of common sense is required, he is sometimes misread as claiming that no defense could be given. Yet Reid does defend common sense. This paper explores how he does so. Before engaging Reid directly, however, I want to consider two ...

David Hume on Monetary Policy: A Retrospective Approach

Monetary policy is a modern idea of which David Hume is generally considered a precursor. Moreover, thanks to Milton Friedman and Robert Lucas, he is often presented as one of the first and most illustrious endorser of monetarism. This paper argues against this view, and in agreement with Joseph Schumpeter, that Hume’s contribution to economics, while not insignificant, cannot claim any real no...