Routledge Dictionary of Economics, Second Edition
Aquinas, St Thomas, 1225–74 (B3)
The leading medieval economic and social thinker and theologian, the most prominent of the Schoolmen. His interpretation of the teaching of ARISTOTLE and the early Christian Fathers is set out in his massive Summa Theologica.
He expounded the doctrine of the JUST PRICE, permitted the charging of interest (when there was a risk that the lender would not be paid on time) and supported the institutions of private property and trade (if the public good is promoted).
References
Baldwin, J.W. (1959) The Mediaeval Theories of the Just Price, Philadelphia: American Philosophical Society.
Gordon, B. (1975) Economic Analysis before Adam Smith, London: Macmillan.
Worland, S.T. (1967) Scholasticism and Welfare Economics, Notre Dame, IN: University of Notre Dame Press.
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