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Aristotle and the Capacity of a Status-theory of Exchange

Author

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  • Ivan Katzarski

    (BAS, Sofia, Bulgaria)

Abstract

The paper compares Aristotle’s view on exchange relationship with modern economic theories (classical and neoclassical, orthodox and heterodox). Various interpretations of reciprocal exchange in Aristotle are analyzed, and a new reading of it is presented. The view is ground­ed that the ancient philosopher has formulated the principle of a status-theory of exchange according to which market subjects own vari­ous resources in quantity and quality. The latter respectively determine a different status which in its turn controls their economic results. The author also thinks that this principle is valid not only for the ancient society but also for every market economy including capitalist one. By this principle, in fact, Aristotle establishes a common ground of economic and sociological analysis.

Suggested Citation

  • Ivan Katzarski, 2017. "Aristotle and the Capacity of a Status-theory of Exchange," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 106-117, June.
    • Handle: RePEc:nwe:iisabg:y:2017:i:3:p:106-117
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    More about this item

    Keywords

    Aristotle; exchange; status; competition; market; price; profit;
    All these keywords.

    JEL classification:

    • B00 - Schools of Economic Thought and Methodology - - General - - - History of Economic Thought, Methodology, and Heterodox Approaches

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