David Hume, a significant figure in science and philosophy in the 18th century, was born on April 26, 1711, in Scotland, and passed away on August 25, 1776. He attended Edinburgh University to study philosophy. He moved to France at the age of 23 and stayed there for four years. He completed his most well-known work, “A Treatise of Human Nature” (1739-1740), which covered philosophical topics, while he was living in France. He accepted a position as a librarian at Edinburgh Law School when he arrived back in England. He gained a setting where he could easily conduct the research he desired as a result. He completed the book that would make him well-known, “The History of England” (1755), while he was working in this library. He went to France in 1763 to work as an embassy clerk. He spent some time working in foreign affairs after moving back to England. Later, he went back to Edinburgh, where he lived out the rest of his days. Hume was a multifaceted author who produced works on a variety of subjects, including philosophy, economics, and aesthetics.
One of the key figures in the empiricism movement is David Hume. According to Hume, our minds transform the impressions we have of our experiences into thoughts. In this way, thoughts and impressions make up the content of the mind. Impressions become clearer and more pronounced during the sensory experience. After sensory experience, thought and concept are what are left. Thoughts and concepts are somewhat replicas of our impressions. Hume’s theories distinguish between simple and complex concepts. It can be observed that the simple thoughts and concepts of each thought and concept emerge from the impressions we have because the complex ones are created by the combination of the simple ones. Since every thought and concept is made up of simpler ideas that we have learned through impressions, it follows logically that if there is no impression, neither thought nor concept can exist.
It was still a battle between mercantilists and classicists in terms of economic doctrine. He gave his theories on human nature a lot of room in his economic analysis. The “quantity theory of money” is Hume’s most important contribution to economic theory. According to Hume, the quantity of mines in a country will depend on its actual economic development rather than the amount of precious metals that are found there. While supporting free trade, Hume added that it would guarantee a sensible distribution of resources. In “Writing on Economics,” Hume compiled his economics writings (1752-1758).