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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.

Suggested Citation

  • Oscar De-Juan & Fabio Monsalve, 2006. "Morally ruled behaviour: The neglected contribution of Scholasticism," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 13(1), pages 99-112.
    • Handle: RePEc:taf:eujhet:v:13:y:2006:i:1:p:99-112
    DOI: 10.1080/09672560500522827
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    References listed on IDEAS

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    1. 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.
    2. Vivian Walsh, 2000. "Smith After Sen," Review of Political Economy, Taylor & Francis Journals, vol. 12(1), pages 5-25.
    3. 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.
    4. 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.
    5. Langholm,Odd, 1998. "The Legacy of Scholasticism in Economic Thought," Cambridge Books, Cambridge University Press, number 9780521621595.
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    Cited by:

    1. Pierre Januard, 2021. "Analysis risk and commercial risk: the first treatment of usury in Thomas Aquinas’s Commentary on the Sentences," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 28(4), pages 599-634, July.
    2. Pierre Januard, 2022. "Probability, prudence, danger: Thomas Aquinas on the building of the lexicon of risk," Working Papers halshs-03787210, HAL.
    3. Pierre Januard, 2022. "Risky exchanges: price and justice in Thomas Aquinas’s De emptione et venditione ad tempus," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 29(4), pages 729-769, July.
    4. Pierre Januard, 2022. "Risks on Trade: The Activity of the Merchant in Thomas Aquinas's Commentary on the Sentences," Post-Print halshs-03515973, HAL.
    5. Pierre Januard, 2022. "At the Boundaries of the Trading Sphere: The Appearance of the 'Just Price' in Thomas Aquinas's Commentary on the Sentences," Working Papers halshs-03658417, HAL.
    6. Pierre Januard, 2022. "Licit and illicit risks in Thomas Aquinas's De emptione et venditione ad tempus [Risques licites et illicites dans le De emptione et venditione ad tempus de Thomas d'Aquin]," Working Papers halshs-03559035, HAL.
    7. Januard, Pierre, 2024. "Probability, prudence, danger: Thomas Aquinas on the building of the lexicon of risk," SocArXiv n7j9t, Center for Open Science.
    8. Pierre Januard, 2022. "Licit and illicit risks in Thomas Aquinas's De emptione et venditione ad tempus [Risques licites et illicites dans le De emptione et venditione ad tempus de Thomas d'Aquin]," Post-Print halshs-03559035, HAL.

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