IDEAS home Printed from https://ideas.repec.org/a/rej/journl/v14y2011i39p257-270.html
   My bibliography  Save this article

A Short History of the “Just Price” Controversy in the XII-th and XIII-th Centuries

Author

Listed:
  • Andreas Stamate

    () (Department of International Business and Economics, Bucharest Academy of Economic Studies, Romania)

Abstract

This paper analyzes the contributions of some of the pre-scholastic and scholastic writers on the doctrine of the “just price”. According to their perspective it is difficult to establish an objective method for discovering the “just price” of goods on the market. On the contrary, they portrayed a theory in which the only instance that ultimately determines the price of goods is the subjective evaluations of those involved in the process of buying and selling. Moreover, the “justice” of an exchange of goods or price, results directly from the absence of fraud or violence. Therefore, a price is “just” if it is voluntarily set and accepted by parties.

Suggested Citation

  • Andreas Stamate, 2011. "A Short History of the “Just Price” Controversy in the XII-th and XIII-th Centuries," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 14(39), pages 257-270, March.
  • Handle: RePEc:rej:journl:v:14:y:2011:i:39:p:257-270
    as

    Download full text from publisher

    File URL: http://www.rejournal.eu/sites/rejournal.versatech.ro/files/articole/2011-03-01/2109/stamate-je39.pdf
    Download Restriction: no

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Andreas Stamate, 2011. "An Economic Interpretation Of Neoclassical Monopoly Theory In The Light Of Austrian School," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(13), pages 1-36.

    More about this item

    Keywords

    just price; scholastics; morality; marginal; subjective;

    JEL classification:

    • B11 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Preclassical (Ancient, Medieval, Mercantilist, Physiocratic)
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian

    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:rej:journl:v:14:y:2011:i:39:p:257-270. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Radu Lupu). General contact details of provider: http://edirc.repec.org/data/frasero.html .

    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.

    We have no references for this item. You can help adding them by using 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.