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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]

Author

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  • Pierre Januard

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

Abstract

In De emptione et venditione ad tempus, a brief early letter on forward selling, Thomas Aquinas presents a risk of usury inherent in the intertemporal dimension of exchange, but inherent also in licit expenses such as transport, and illicit ones such as borrowing costs or expenses incurred without attention or unwisely, which the merchant may or may not pass on via the price. These expenses appear as risks which are described here for the case of forward sale, but are properly inherent to any commercial activity. While transport is a part of the merchant's activity and represents the paradigm of licit risk, imprudence characterises two stages of failure in his management, namely negligence and mismanagement, and hence leads to illicit risk.

Suggested Citation

  • 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.
    • Handle: RePEc:hal:journl:halshs-03559035
    DOI: 10.4000/oeconomia.12774
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-03559035
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    References listed on IDEAS

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    Cited by:

    1. Pierre Januard, 2022. "Probability, prudence, danger: Thomas Aquinas on the building of the lexicon of risk," Working Papers halshs-03787210, HAL.
    2. Januard, Pierre, 2024. "Probability, prudence, danger: Thomas Aquinas on the building of the lexicon of risk," SocArXiv n7j9t, Center for Open Science.

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    Keywords

    Thomas Aquinas; risks; expenses; transport; Prudence;
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