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Probability, prudence, danger: Thomas Aquinas on the building of the lexicon of risk

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  • Pierre Januard

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

Abstract

The Latin terms commonly used to signify 'risk' are absent from Thomas Aquinas's economic writings. Instead, Aquinas offers a lexicon of probability, prudence and danger. This ternary lexicon brings with it a triple universalisation of risk: first, a universalisation through activity, including the activity of analysis considered as part of economic activity; second, a universalisation through the agents, since everyone-the observer, the co-contractors, the prince and the population-is affected by the risk; and, finally, a partial universalisation of its definition, since the lexicon indicates a risk which is not yet restricted by calculation, as the modern notion is, although some distinctions are already made by Aquinas. However, the lexicon only describes a risk of loss and does not take into account chance of gain.

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  • Pierre Januard, 2024. "Probability, prudence, danger: Thomas Aquinas on the building of the lexicon of risk," Post-Print halshs-04074876, HAL.
    • Handle: RePEc:hal:journl:halshs-04074876
    DOI: 10.1017/S1053837223000238
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-04074876
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    Keywords

    Thomas Aquinas; scholastics; danger; probability; prudence; risk;
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