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Market contracts in the age of Hume

Authors :
Schabas, Margaret
Source :
History of Political Economy. Annual, 1994, Vol. 26 Issue SUPP, p117, 18 p.
Publication Year :
1994

Abstract

Higgling is a temporary, irrelevant effect in the transition to a market economy, and this is reflected in the economic writings of David Hume. Higgling originated as the process of bargaining in a marketplace, and some economists have expanded it to cover modern institutional systems. However, Hume shows markets involve stable values such as the keeping of promises. Market contracts are a significant aspect of Hume's work, which scholars have overlooked.

Details

ISSN :
00182702
Volume :
26
Issue :
SUPP
Database :
Gale General OneFile
Journal :
History of Political Economy
Publication Type :
Academic Journal
Accession number :
edsgcl.16606599