Last edited by Kesida
Saturday, February 8, 2020 | History

5 edition of Wealth and Money in the Aristotelian Tradition found in the catalog.

Wealth and Money in the Aristotelian Tradition

A Study in Scholastic Economic Sources (Norwegian University Press Publication)

by Odd Langholm

  • 270 Want to read
  • 21 Currently reading

Published by Oxford University Press, USA .
Written in English

    Subjects:
  • Money & Monetary Policy,
  • Children"s All Ages - Business / Economics

  • The Physical Object
    FormatHardcover
    Number of Pages110
    ID Numbers
    Open LibraryOL9093910M
    ISBN 108200067505
    ISBN 109788200067504

    He also anticipated the Austrian theory of imputation that holds that the value of productive factors can be obtained via imputation from the market values of final products. He also discusses the entire range of commodity exchange including barter, retail trade, and usury. But there is another kind of acquisition that is specially called wealth-getting, and that is so called with justice and to this kind it is due that there is thought to be no limit to riches and property. The use value or utility of a good or service depends upon its being productive of an individual person's good.

    Aristotle taught that economics is concerned with both the household and the polis and that economics deals with the use of things required for the good or virtuous life. He sees barter as natural but inadequate because of the difficulty of matching households with complementary surpluses and deficiencies. Whereas Aristotle views household management as praiseworthy and as having a natural terminus, he is skeptical about retail trade because it has no natural terminus and is only concerned with getting a sum of money. This led Aristotle to the consideration of commensurability and to inquire into the notion of exchange values.

    A corporate CEO, to be virtuous, would need to be neither too greedy and parsimonious, as workers would be unhappy and unproductive, nor too profligate, buying so many corporate jets and building new headquarters that the company goes bankrupt. Abolishing private property would probably create more problems than it would solve. Not only does money eliminate the need for a double coincidence of wants, it also supplies a convenient and acceptable expression for the exchange ratio between various goods. Monetary Theory before Adam Smith.


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Wealth and Money in the Aristotelian Tradition book

There is a range of reciprocal mutuality that brings about exchange. He says that it is from the existence of wealth as exchange value that we derive the idea that wealth is unlimited. Hence there is nothing to hinder gain from being referred to an end necessary or even honorable.

The end of economics as a practical science is attaining effective action. In his idea of commensurability Aristotle was the first to identify a serious and authentic problem of economics.

Aristotle taught that when a man pursues wealth in the form of exchange value he would undermine the proper and moral use of his human capacities.

Economics in the Medieval Schools

This is a preview of subscription content, log in to check access. Hence the business of drawing provision from the fruits of the soil and from animals is natural to all.

Scholasticism and Welfare Economics. For Aristotle, the legitimate end of money is as a medium of exchange but not as wealth or as a store of value.

The compulsion of communal property would destroy that opportunity. Fourth, Aristotle, a great observer of past and present, pointed out that private property had existed always and everywhere.

The seller must not employ a sham purchaser, nor the buyer one to depreciate the article on sale by too low a bid. As in the art of medicine there is no limit to the pursuit of health, and as in the other arts there is no limit to the pursuit of their several ends, for they aim at accomplishing their ends to the uttermost but of the means there is a limit, for the end is always the limitso, too, in this art of wealth-getting there is no limit of the end, which is riches of the spurious kind, and the acquisition of wealth.

For, as their enjoyment is in excess, they seek an art which produces the excess of enjoyment; and, if they are not able to supply their pleasures by the art of getting wealth, they try other arts, using in turn every faculty in a manner contrary to nature.

But how can that be wealth of which a man may have a great abundance and yet perish with hunger, like Midas in the fable, whose insatiable prayer turned everything that was set before him into gold?

Aristotle considers both the household and the polis to be natural forms of association. He sees also that money, the medium of exchange, represents general demand, and "holds all goods together.

As Aristotle trenchantly put it, "men do not become tyrants in order that they may not suffer cold. Aristotle explains that wealth derives its value from its contribution to the acquisition of other goods desirable for their own sake.

Among these precedence is given to the one which cultivates the land; those like mining, which extract wealth from it, take the second place. The Aristotelian Analysis of Usury. He states that it is in the form of money, a substance that has a telos, that individuals have devised a unit that supplies a measure on the basis of which just exchange can take place.

Aristotle observes that exchange value is essentially a quantitative matter that has no limit of its own. Unfortunately, they appeared at the very end of the creative period of Greek thought, and therefore came to be accepted as authoritative.For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.

(1 Timothy ) I recently finished reading Marcia L. Colish’s Medieval Foundations of the Western Intellectual Tradition for one of my seminary courses.

Coupled with other readings on medieval theology, I have come to greatly. Read "Economics in the Medieval Schools, Wealth, Exchange, Value, Money, and Usury according to the Paris Theological Tradition,History of Political Economy" on DeepDyve, the largest online rental service for scholarly research with thousands of academic publications available at your fingertips.

Aristotle ( B.C.), the most important thinker who has ever lived, advanced a body of thought with respect to the development of the components of a market economy. His economic thought (especially his value theory) is insightful but occasionally contradictory and inconsistent.

The twelve essays in this volume are the result of a research programme by a Danish-Swedish research network into The Aristotelian Tradition: The reception of Aristotle’s works on logic and metaphysics in the Middle atlasbowling.com impressive and wide-ranging volume, which has its roots in the disciplines of both philology and philosophy, has at its core a focus on the different historical.

The Aristotelian Society Philosophy Podcast Series contains free audio recordings of the talks delivered for the Proceedings. The Series was launched for the /12 academic year and is produced by Backdoor Broadcasting Company in conjunction with the Institute of Philosophy.

A Study in Scholastic Economic Sources (), Wealth and Money in the Aristotelian Tradition (), The Aristotelian Analyses of Usury (), Economics in the Medieval Schools.

Wealth, Exchange, Value, Money and Usury according to the Paris Theological Tradition, – () Alma mater: Norwegian School of Economics and .