IDEAS home Printed from https://ideas.repec.org/a/bas/econst/y2003i2p72-88.html
   My bibliography  Save this article

Forerunner of the Theories of the Free Market Economy

Author

Listed:
  • Ivan Verbanov

Abstract

The present paper is devoted to the economic ideas of the late Scholastics Spanish theologians of 15th and 16th century – especially Salamanca school. It has two tasks. First, to analyze reflections on economic ideas of Spanish Scholastics in the history of economics thought. It is clamed that the beginning of economics as a science should be referred to the late Mediaeval Scholastics. Second task is to explicate the significance of (philosophical, theological, ethical and economic views of) Salamanca School for modern economic personalism and Austrian school of economics. The common characteristic of these schools, notwithstanding of their historical, theoretical, methodological, and other differences, is that they are variants of the same idea - the idea of economic freedom.

Suggested Citation

  • Ivan Verbanov, 2003. "Forerunner of the Theories of the Free Market Economy," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 72-88.
    • Handle: RePEc:bas:econst:y:2003:i:2:p:72-88
    as

    Download full text from publisher

    File URL: http://www.ceeol.com/aspx/issuedetails.aspx?issueid=53d7f7d3-74cc-484d-be49-45d27417d809&articleid=14be3534-ebd0-4daf-aed5-364128c54a9a#a14be3534-ebd0-4daf-aed5-364128c54a9a
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Murray N. Rothbard, 1995. "Economic Thought Before Adam Smith," Books, Edward Elgar Publishing, number 377.
    2. Huerta de Soto, Jesus, 1996. "New Light on the Prehistory of the Theory of Banking and the School of Salamanca," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 9(2), pages 59-81.
    3. Raymond de Roover, 1955. "Scholastic Economics: Survival and Lasting Influence from the Sixteenth Century to Adam Smith," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 69(2), pages 161-190.
    4. Bernard W. Dempsey, 1935. "The Historical Emergence of Quantity Theory," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 50(1), pages 174-184.
    5. Marjorie Grice-Hutchinson, 1993. "Economic Thought In Spain," Books, Edward Elgar Publishing, number 191 edited by Laurence S. Moss & Christopher K. Ryan.
    6. Langholm,Odd, 1998. "The Legacy of Scholasticism in Economic Thought," Cambridge Books, Cambridge University Press, number 9780521621595.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. José Luis Cendejas Bueno, 2021. "Justice and just price in Francisco de Vitoria's Commentary on Summa Theologica II-II q77," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 14(1-2), pages 1-32, November.
    2. S. Drakopoulos & G.N. Gotsis, 2004. "A Meta-theoretical Assessment of the Decline of Scholastic Economics," History of Economics Review, Taylor & Francis Journals, vol. 40(1), pages 19-45, January.
    3. Vergés Josep C., 2000. "The Political Economy of the Just Price: What the School of Salamanca Has To Say in the Age of Corruption," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 10(2), pages 1-33, June.
    4. de Soto Jesus Huerta, 1998. "The Ongoing Methodenstreit of The Austrian School," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 8(1), pages 1-40, March.
    5. Domènec Melé, 2016. "Re-thinking Capitalism: What We can Learn from Scholasticism?," Journal of Business Ethics, Springer, vol. 133(2), pages 293-304, January.
    6. Liggio Leonard P., 2003. "American Classical Liberalism and Religion: Religion, Reason and Economic Science," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 13(2), pages 1-19, June.
    7. Philipp Robinson Rössner, 2019. "Martin Luther and the making of the modern economic mind," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 66(3), pages 233-248, September.
    8. Toon Van Houdt, 1998. "'Lack of money': a reappraisal of Lessius' contribution to the scholastic analysis of money-lending and interest-taking," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 5(1), pages 1-35.
    9. Chris Fleming & David Rigamer & Walter Block, 2012. "The Jesuits: The Jesuits: From Markets To Marxism; From Property Protection To Social Progressivism," Romanian Economic Business Review, Romanian-American University, vol. 7(2), pages 7-22, June.
    10. Mark Koyama, 2008. "Evading the 'Taint of Usury' Complex Contracts and Segmented Capital Markets," Economics Series Working Papers 412, University of Oxford, Department of Economics.
    11. Cervera-Ferri, Pablo & Insa-Sánchez, Pau, 2022. "Rareness in the intellectual origins of Walras’ theory of value," OSF Preprints 5nwcb, Center for Open Science.
    12. Nadia Matringe, 2016. "Ratio Pecuniam Parit Accounting and the making of financial markets in the Early Modern Age," Working Papers hal-01358129, HAL.
    13. Robert Ekelund & Robert Tollison, 1997. "On neoinstitutional theory and preclassical economies: mercantilism revisited," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 4(3), pages 375-399.
    14. Pierre Januard, 2022. "Risks on Trade: The Activity of the Merchant in Thomas Aquinas's Commentary on the Sentences," Working Papers halshs-03313255, HAL.
    15. Facchini, François, 2004. "La théorie autrichienne des cycles : une théorie de la récurrence des erreurs collectives d’anticipation," L'Actualité Economique, Société Canadienne de Science Economique, vol. 80(1), pages 67-94, Mars.
    16. Garello Jacques, 1999. "Hayek's Unconventionalism," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 9(4), pages 1-16, December.
    17. van Dun Frank, 1995. "The Lawful And The Legal," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 6(4), pages 1-26, December.
    18. Sascha O. Becker & Luigi Pascali, 2019. "Religion, Division of Labor, and Conflict: Anti-semitism in Germany over 600 Years," American Economic Review, American Economic Association, vol. 109(5), pages 1764-1804, May.
    19. Pierre Januard, 2022. "Probability, prudence, danger: Thomas Aquinas on the building of the lexicon of risk," Working Papers halshs-03787210, HAL.
    20. Clara Jace, 2019. "An economic theory of economic analysis: the case of the School of Salamanca," Public Choice, Springer, vol. 181(3), pages 375-397, December.

    More about this item

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B11 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Preclassical (Ancient, Medieval, Mercantilist, Physiocratic)
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bas:econst:y:2003:i:2:p:72-88. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Diana Dimitrova (email available below). General contact details of provider: https://edirc.repec.org/data/ikbasbg.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.