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Justice and just price in Francisco de Vitoria's Commentary on Summa Theologica II-II q77

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  • José Luis Cendejas Bueno

    (UFV - Université Francisco de Vitoria = Universidad Francisco de Vitoria)

Abstract

Following Thomas Aquinas, Francisco de Vitoria's analysis of justice in exchanges takes place by commenting on the corresponding questions of the Summa Theologica. The identification of the just price with that of common estimation occurs under a sufficient concurrence of sellers and buyers. A high level of concurrence limits the ability to take advantage of the need on the other side of the market. This fact guaranties a full consent of the parties involved in trading. Under conditions of market power or when some authority fixes a legal price, just price should also be taken as a normative ideal.

Suggested Citation

  • José Luis Cendejas Bueno, 2021. "Justice and just price in Francisco de Vitoria's Commentary on Summa Theologica II-II q77," Post-Print hal-03374854, HAL.
    • Handle: RePEc:hal:journl:hal-03374854
    DOI: 10.46298/jpe.8661
    Note: View the original document on HAL open archive server: https://hal.science/hal-03374854v3
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    References listed on IDEAS

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    1. de Roover, Raymond, 1958. "The Concept of the Just Price: Theory and Economic Policy," The Journal of Economic History, Cambridge University Press, vol. 18(4), pages 418-434, December.
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    4. Fabio Monsalve, 2010. "Economics and Ethics: Juan de Lugo's Theory of the Just Price, or the Responsibility of Living in Society," History of Political Economy, Duke University Press, vol. 42(3), pages 495-519, Fall.
    5. Marjorie Grice-Hutchinson, 1993. "Economic Thought In Spain," Books, Edward Elgar Publishing, number 191 edited by Laurence S. Moss & Christopher K. Ryan.
    6. Barry Gordon, 1975. "Economic Analysis before Adam Smith," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-02116-1, December.
    7. José Cendejas Bueno & Cecilia Font de Villanueva, 2015. "Convergence of inflation with a common cycle: estimating and modelling Spanish historical inflation from the 16th to the 18th centuries," Empirical Economics, Springer, vol. 48(4), pages 1643-1665, June.
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    Cited by:

    1. José Luis Cendejas Bueno, 2024. "Plato, Aristotle, and Locke on the accumulation of wealth and natural law," Post-Print hal-04149419, HAL.

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    More about this item

    Keywords

    School of Salamanca; Scholastic economic thought; just price theory; Francisco de Vitoria;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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