3min chapter

Past Present Future cover image

History of Ideas: Hume

Past Present Future

CHAPTER

The Fear of Inflation

Hume is not Hayek. He was just straight out wrong in his prognostications for what would happen to the British state because of its indebtedness. The British state was not and has not, to this point, been ruined by debt. And the British state after Hume's death took on far greater debts than anything Hume could conceivably have contemplated. In the end, it flourished and the debt did not overwhelm it.

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