THE DEVELOPMENT OF ECONOMICS IN BRITISH PHILOSOPHY 1688-1776 - BY CHARLES WOODY THOMPSON

Sep 21, 2026

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Study of the origins and growth of economic thought through British philosophers living between 1688 and 1776. Frames the transition from mercantilism toward policies emphasizing individual freedom, and compares philosophers including Locke, Mandeville, Berkeley, Hutcheson, and Hume. Highlights shared ideas about springs of action, natural rights, pain and pleasure motives, and the natural freedom to life, property, and labor. Discusses how these notions shaped economic views on interest regulation, governmental aid, wealth, labor, trade, and laissez-faire.

LanguageEnglish

CategoryLiterature

FormatPDF

Pages12

Reading Time18 min

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THE DEVELOPMENT OF ECONOMICS IN BRITISH PHILOSOPHY 1688-1776

Philosophy

Wealth

97-84084-14Thompson,Charles Woody The development ofeconomics in British.. Urbana,Ⅲ. 1926 # COLUMBIA UNIVERSITY LIBRARIESPRESERVATION DIVISIONBIBLIOGRAPHIC MICROFORM TARGET ## ORIGINAL MATERIAL AS FILMED·EXISTING BIBLIOGRAPHIC RECORD Reproductions may nof be made wlthout permksslon trom Columbia University Libraries. ## RESTRICTIONS ON USE: TECHNICAL MICROFORM DATA 5mmREDUCTION RATIO: /1:/MAGE PLACEMENT:IA IB IIB FILM SIZE: DATE FILMED: 5元9 TRACKING\#: 2345~1 FILMED BY PRESERVATION RESOURCES,BETHLEHEM,PA. тне реуеьормемТ ор есомомпСвIN BRITISH PHILOSOPHY 1688-1776 308 Z x198 BY cнarues woopv тнompsonА.В, Unveraiy ol lliaois, 1922 A.M.,University of Ilinois,I923 AN ABSTRACT OF A THESLS SUBMITTED IN PARTIAL FULFILLMENT OF THE REOUIREMENTSров тне БеСвее ор ОоСтОВ ор рнПоборнУ Песомомлсз шм тнЕ свАриАте бснооь орТНЕ UNVERSITV OF ILlINOlS,1925 URBANA,ILLINOIS I926 ## THE DEVELOPMENT OF ECONOMICSIN BRITISH PHILOSOPHY 1688-1776 BYCHARLES WOODY THOMPSON A.B,Univerity of IIinois,1922 A.M,University of Ilinois,1923AN ABSTRACT OFA THESIS SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTSFOR THE DEGREE OF DOCTOR OF PHILOSOPHY INECONOMICS IN THE GRADUATE SCHOOLOFTHE UNIVERSITY OF ILLINOIS,1925URBANA,ILLINOIS1926 r.22,92 e- ## THE DEVELOPMENT OF ECONOMICS IN BRITISHPHILOSOPHY,1688-1776 The history of economic thought has its origin in philosophy,and its development is especially indebted to certain philosophicalwriters who lived between the time of the Revolution of 1688 andthe publication of the Wealth of Nations in 1776.Their economicideas illustrate the course of the transition from mercantilism tothe policy of individual freedom.Thus,this study proposes tostate,and compare the economic ideas of the following philoso-phers,Locke,Mandeville,Berkeley,Hutcheson,and Hume.Spe-cial emphasis will be placed on their theories of value and distri-bution.In addition Philosophy These thinkers held certain philosophic notionssuch as the springs of action,and natural rights which have a verydefinite relation to economics.Man was considered to be moti-vated by pain and pleasure;he avoided the former and sought thelatter.He may,therefore,seek either his own good,or the generalgood of society;in other words,either egoism or altruism may bethe prompting ends of action.Locke employs both these con-cepts,asigning to self-interest the stimulating force in a stateof nature,while in society,the fundamental law is the generalgood.Mandeville and Berkeley definitely upheld the opinionthat man was for the most part motivated by self-love.Hutche-son believed in both egoism and altruism as stimulants of action,but he preferred the latter as the higher goal of endeavor.Humesays that all of man's activity may not be explained by self-love;sympathy and benevolence are needed.He admitted,nevertheless,that self-love was the more impelling force in man;he first con-sidered his own interests,and later those of his fellows. Locke and Hutcheson advanced the idea of the natural rightsof man,which were operative in society as well as in nature.Every one has the fundamental right to life,and as a corollary,the right to food,clothing,and other things necesary for exist-ence.Likewise,he has a free and unlimited right to the use anddisposal of his own labor;and since this labor is inseparablymixed with the objects of nature,these objects become his prop-erty.These laws or rights are given to mankind by God and nature,and their perception is through the faculty of reason.Theserights aretherefore,inalienable,and they remain in one's po5-·session regardless of whether they are desired or not.Since allmen are created free and equalthey may do as they wish with-out interference from anyone,so long as they do not infringe onthe property or activity of others.Hume had a more cr

FAQs

Which philosophers are compared in this study and what common period do they belong to?

The study compares Locke, Mandeville, Berkeley, Hutcheson, and Hume. They lived between the Revolution of 1688 and the publication of the Wealth of Nations in 1776.

What philosophical ideas are emphasized as having direct relevance to economics?

The document emphasizes the “springs of action” and natural rights, linking motivations like pain and pleasure to economic behavior and political principles.

How does the document describe the shift from mercantilism to economic freedom?

It presents these thinkers as illustrating a transition from mercantilism toward policies of individual freedom, culminating in stronger support for laissez-faire in Hume.

Sep 21, 2026

Uploaded by Quinn