Moderate Liberalism and the Scottish Enlightenment: Montesquieu, Hume, Smith and Ferguson

Montesquieu, Hume, Smith, and Ferguson's liberal theories responded to the moral and civic challenges of early capitalism by emphasizing the importance of honor. Vassiliou's book explores how these thinkers developed their distinct theories of honor in the context of eighteenth-century high finance and offers a heuristic device for identifying when commercial innovation poses a threat to liberal societies. It provides a framework for balancing commercial ends with the public good under conditions of liberal democracy.

Format: Hardback
Length: 240 pages
Publication date: 31 July 2023
Publisher: Edinburgh University Press

Introduction:
Montesquieu, Hume, Smith, and Ferguson were influential Enlightenment thinkers who grappled with the moral and civic challenges of early capitalism. This essay examines how their foundational liberal theories responded to these challenges. It brings together discussions of key Enlightenment thinkers, including Montesquieu, David Hume, Adam Smith, and Adam Ferguson, to recapture a conceptual space in the famous eighteenth-century commerce and virtue debates. The essay also compares how Montesquieu and key thinkers of the Scottish Enlightenment developed their distinct theories of honor in the context of eighteenth-century high finance, notably in response to the infamous collapse of the Mississippi and South Sea bubbles (1720). Finally, the essay provides a heuristic device for identifying when commercial innovation poses a threat to liberal societies and a framework for balancing commercial ends with the public good under conditions of liberal democracy.
Montesquieu and the Scottish Enlightenment:
Montesquieu, a French philosopher, is widely regarded as one of the most important thinkers of the Enlightenment. His seminal work, The Spirit of Laws (1748), explored the relationship between government and society, particularly in the context of the French Revolution. Montesquieu argued that the separation of powers was essential for preventing the abuse of power and preserving individual liberties. He also emphasized the importance of the rule of law and the importance of the social contract, which he saw as the basis of legitimate government.
David Hume:
David Hume, another Scottish philosopher, is known for his skepticism and his belief in the power of reason. He argued that human beings are motivated by self-interest and that government should be limited to protecting individual rights and promoting the public good. Hume also criticized the idea of natural law, which he saw as a metaphysical construct that was not grounded in empirical evidence.
Adam Smith:
Adam Smith, a Scottish economist, is best known for his book The Wealth of Nations (1776), which argued that free markets and competition lead to economic prosperity and social welfare. Smith emphasized the importance of individual liberty and the need for government to promote economic growth and stability. He also argued that the division of labor and specialization were key to economic efficiency and that government should not interfere with the free market.
Adam Ferguson:
Adam Ferguson, a Scottish economist and philosopher, is known for his advocacy of laissez-faire capitalism and his belief in the power of markets to regulate themselves. Ferguson argued that government should not interfere with the free market, but should instead promote economic growth and stability through policies such as low taxes and limited regulation.
Honor and Liberalism:
Honor is a central theme in the liberal theories of Montesquieu, Hume, Smith, and Ferguson. These thinkers recognized that commercial innovation posed a threat to traditional values and institutions, such as honor and virtue. They sought to channel human beings desire for honor to nourish a sense of i.
Conclusion:
Montesquieu, Hume, Smith, and Ferguson represent a moderate perspective in foundational liberal thought, which emphasizes the critical importance of honor. Their liberal theories uniquely channel human beings desire for honor to nourish a sense of i.
References:
Vassiliou, Kostas. "Montesquieu, Hume, Smith, and Ferguson: Moderate Liberalism and the Scottish Enlightenment." Political Theory 38.1 {PHONE}.

Dimension: 234 x 156 (mm)
ISBN-13: 9781399521192