Chapter 13 - Hume and the Politics of Money

Summary

This contribution surveys the essays in political economy that Hume began to publish in 1752, with particular attention to his thinking about money. The essays are presented as, in part, extensions of the natural history of property and government that Hume began to sketch in A Treatise of Human Nature. But they were also carefully calibrated interventions in the political discourse of trade and finance prominent in British politics since the seventeenth century. Hume’s political economy can be situated in a range of British and European intellectual and political contexts. This chapter pays particular attention to his recurrent engagement with John Locke’s extensive writings on money, trade and taxation, which served Hume as a foil in developing his own positions. There is, it will be suggested, a deep connection between Hume’s celebrated critique of Locke’s account of the original contract and his rejection of Locke’s search for an invariable monetary standard.