THE RICHNESS AND THE GREATNESS OF THE STATE IN THE ECONOMIC WORKS OF DAVID HUME
Keywords:
International trade, State, Money, ManufactureAbstract
This article highlights David Hume's contribution to economic science, inserting his reflection on economcs in the great debate about what wealth is and how to promote the greatness and prosperity of the state. The article is divided into three sections. The first deals with the definition of the static conception of economics and its practical effects on mercantilist doctrine. Next, it appreciates the application of the philosophical method to the economic analysis, as well as Hume's answer concerning the way by which it is possible to become the State richer and more powerful. Finally, it discusses how Hume argues that wealth can be increased through international trade and that trade surpluses or deficits are transitory due to price-specie flow.
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