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Morally ruled behaviour: The neglected contribution of Scholasticism

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  • Oscar De-Juan
  • Fabio Monsalve

Abstract

In the analysis of 'justice' in market exchanges, the scholastic doctors made some contributions to the theories of prices and money. But probably the most important (and neglected) contribution lies in the domain of anthropology, i.e. in the explanation of human nature and human behaviour. In this paper the authors are going to work out two scholastic ideas that provide an alternative to the individualist and utilitarian approach of neoclassical economics. (1) Persons are morally ruled beings; a sense of 'duty' is a key element in their behaviour; (2) Persons are social beings competing and cooperating to achieve certain goals. Dominant positions and privileged information grant them special powers that should not be abused.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal The European Journal of the History of Economic Thought.

Volume (Year): 13 (2006)
Issue (Month): 1 ()
Pages: 99-112

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Handle: RePEc:taf:eujhet:v:13:y:2006:i:1:p:99-112

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Related research

Keywords: History of economic thought; ethics and justice; dominant position; asymmetrical information;

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  1. David Levine, 1998. "The self and its interests in classical political economy," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 5(1), pages 36-59.
  2. James Konow, 2003. "Which Is the Fairest One of All? A Positive Analysis of Justice Theories," Journal of Economic Literature, American Economic Association, vol. 41(4), pages 1188-1239, December.
  3. Robert H. Frank & Thomas Gilovich & Dennis T. Regan, 1993. "Does Studying Economics Inhibit Cooperation?," Journal of Economic Perspectives, American Economic Association, vol. 7(2), pages 159-171, Spring.
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