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Quota Justice in Exchange: The Economic Philosophy of John Duns Scotus

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  • Robert I. Mochrie

Abstract

Review of the contributions to Scholastic economic philosophy made by Duns Scotus in the Opus Oxoniense, showing that Scotus makes considerable advances in the understanding of exchange, the legitimisation of trade, and the development of the Church’s traditional teaching on usury. I then apply the principles developed by Scotus concerning the nature of justice to explore modern controversies in theology over the nature of debt, equality and economic growth. I argue that it is possible to identify a route through which a Scotist economics might be developed, suggesting that this would place a greater value on normative analysis than is the case in neo-classical economics, and assist communication between economists and theologians.

Suggested Citation

  • Robert I. Mochrie, 2005. "Quota Justice in Exchange: The Economic Philosophy of John Duns Scotus," Working Papers E01, Department of Economics, School of Management and Languages, Heriot Watt University.
  • Handle: RePEc:hwe:hwecwp:2005-e01
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    Keywords

    Duns Scotus; justice; usury; economic theology;

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B11 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Preclassical (Ancient, Medieval, Mercantilist, Physiocratic)
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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