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Nicomachean Ethics Political Economy: The Trajectory of the Problem of Value


  • Nicholas J. Theocarakis

    () (National and Kapodistrian University of Athens - Department of Economics)


The paper examines the influence of the analysis of economic exchange in Aristotle’s Nicomachean Ethics, v, on subsequent economic theorizing. The approach is textual and selective. It traces the use of the relevant passage of NE v on Scholastic economic thought, the early mercantilists, natural law philosophy, the Scottish Enlightenment, Galiani, Turgot, Smith and Karl Marx. It ends with the abandonment of Aristotelian equivalence of exchange in neoclassical economics.

Suggested Citation

  • Nicholas J. Theocarakis, 2006. "Nicomachean Ethics Political Economy: The Trajectory of the Problem of Value," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 14(1), pages 9-54.
  • Handle: RePEc:hid:journl:v:14:y:2006:1:1:p:9-54

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    Cited by:

    1. SOLDATOS Gerasimos T., 2014. "Modern Social Science Concepts, Proportionate Reciprocity, Modesty, and Democracy," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 01, March.
    2. repec:pra:mprapa:58668 is not listed on IDEAS

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