Richard Price: Exploring the Intersection of Philosophy, Morality, and Economic Theory

Introduction This paper aims to explore the life and contributions of Richard Price, an 18th-century philosopher, economist, and moral theorist whose works intersect philosophy, morality, and economic theory. Price’s intellectual pursuits were marked by an unwavering commitment to the principles of human liberty, ethical behavior, and rational thought. By examining his key philosophical ideas and their implications for economic theory, this report seeks to demonstrate how Price’s work laid crucial groundwork for the development of modern economic thought while simultaneously emphasizing the importance of moral considerations within economic practices.

Main Body Richard Price (1723-1791) was a Welsh philosopher and an early advocate of utilitarianism, a moral theory that promotes actions that maximize happiness and reduce suffering. His philosophical approach is best encapsulated in his seminal work, “A Review of the Principal Questions and Difficulties in Morals,” where he argues for the ethical underpinnings of human actions. Price contended that morality is not merely a set of arbitrary social const