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The content of this part largely covers political and aesthetic issues. Part II includes the essays from Political Discourses, [3] most of which develop economic themes. The total two-part collection appeared within a larger collection of Hume's writings titled Essays and Treatises on Several Subjects. [4]
Hume's essay is the first known establishment of the concept of the Price-Specie Flow Mechanism. Perhaps still the best, [ 3 ] it was cited by Paul Krugman and John Maynard Keynes on one end of the political spectrum and by Austrian economists on the other.
In practice, however, specie flows during the classical gold standard era failed to exhibit the self-corrective behavior described above. Gold finding its way back from surplus to deficit countries to exploit price differences was a painfully slow process, and central banks found it far more effective to raise or lower domestic price levels by lowering or raising domestic interest rates.
Hume's account of causality has been influential. His first question is how to categorize causal relations. On his view, they belong either to relations of ideas or matters of fact. This distinction is referred to as Hume's fork. [4] Relations of ideas involve necessary connections that are knowable a priori independently of experience.
Hume was born on 26 April 1711, as David Home, in a tenement on the north side of Edinburgh's Lawnmarket.He was the second of two sons born to Catherine Home (née Falconer), daughter of Sir David Falconer of Newton, Midlothian and his wife Mary Falconer (née Norvell), [14] and Joseph Home of Chirnside in the County of Berwick, an advocate of Ninewells.
Hume puts forward sentimentalism as a foundation for ethics primarily as a meta-ethical theory about the epistemology of morality. Hume's sentimentalism is akin to the moral epistemology of intuitionism (although, of course, different in many respects). According to such a theory, one's epistemological access to moral truths is not primarily ...
Aside from lopping off entire agencies, here are some examples of controversial federal spending that, based on Musk and Ramaswamy’s recent comments, could be in the line of fire for coming cuts:
Hume's introduction presents the idea of placing all science and philosophy on a novel foundation: namely, an empirical investigation into human psychology.He begins by acknowledging "that common prejudice against metaphysical reasonings [i.e., any complicated and difficult argumentation]", a prejudice formed in reaction to "the present imperfect condition of the sciences" (including the ...