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Is God giving or trading? Super Isaiam, 55, 1: Thomas Aquinas's first use of 'just price'

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  • Pierre Januard

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

Abstract

The phrase 'just price' first appears in Aquinas's Commentary on the Book of Isaiah (1252). Interestingly, even in this early work Aquinas introduces the notion of price to comment on a verse, a term which had in fact disappeared with the Vulgate Latin translation, on which Aquinas nevertheless relied, as it had also from the Fathers's commentaries. Aquinas here provides the founding elements of his later analyses: the role of the price in ensuring the justice of exchange, but also the diversity of possible exchange ratios, not necessarily referring to price, in order to account for limit cases within an exchange framework.

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  • Pierre Januard, 2022. "Is God giving or trading? Super Isaiam, 55, 1: Thomas Aquinas's first use of 'just price'," Working Papers halshs-03658155, HAL.
    • Handle: RePEc:hal:wpaper:halshs-03658155
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-03658155
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    References listed on IDEAS

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    1. Irina Chaplygina & André Lapidus, 2016. "Economic thought in scholasticism," Chapters, in: Gilbert Faccarello & Heinz D. Kurz (ed.), Handbook on the History of Economic Analysis Volume II, chapter 3, pages 20-42, Edward Elgar Publishing.
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    More about this item

    Keywords

    Thomas Aquinas; Scholastics; just price; risk JEL classification: B11;
    All these keywords.

    JEL classification:

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

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