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Risky exchanges: Price and justice in Thomas Aquinas's De emptione et venditione ad tempus

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  • Pierre Januard

    (PHARE - Philosophie, Histoire et Analyse des Représentations Économiques - UP1 - Université Paris 1 Panthéon-Sorbonne)

Abstract

Thomas Aquinas's De emptione et venditione ad tempus is concerned less with usury than with commercial exchange. Cross-referencing the economic aspects of forward selling and the role of the virtue of justice with Aquinas's concepts of sign and analogy leads us to revise our understanding of the just price, drawing a distinction between three different levels of reality (normative, market, and singular exchange), each of which gives rise to analytical, commercial, and strategic risks. This risk analysis grid offers a basis for a new reading of his later works, notably the Summa theologiae.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Pierre Januard, 2022. "Risky exchanges: Price and justice in Thomas Aquinas's De emptione et venditione ad tempus," Post-Print halshs-03679044, HAL.
  • Handle: RePEc:hal:journl:halshs-03679044
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    Cited by:

    1. Januard, Pierre, 2024. "Probability, Prudence, Danger: Thomas Aquinas On The Building Of The Lexicon Of Risk," Journal of the History of Economic Thought, Cambridge University Press, vol. 46(3), pages 421-442, September.
    2. repec:osf:socarx:n7j9t_v1 is not listed on IDEAS
    3. 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.
    4. André Lapidus, 2023. "Hugo Grotius on Usury," Post-Print hal-03989450, HAL.
    5. Pierre Januard, 2022. "Risks on Trade: The Activity of the Merchant in Thomas Aquinas's Commentary on the Sentences," Post-Print halshs-03515973, HAL.
    6. 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.
    7. 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.
    8. André Lapidus, 2024. "Hugo Grotius on exchange and price," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 31(4), pages 633-649, July.

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