Price and Value in Scholastic Thought: 1300–1600
By the late thirteenth century, for a variety of reasons, not the least of which was the swollen size of urban populations, the larger towns could no longer rely exclusively on the free market to assure the abundant and cheap supplies of grain their citizens needed. By a variety of measures, ranging from simple embargoes on grain export to the creation of grain-purchasing monopolies with power to fix the price of locally produced grain, the larger towns had assumed responsibility for keeping the price of grain at a level even their poorest citizens could afford.1
KeywordsPrice Determination Fourteenth Century Price Fixation Labour Theory Noonan State
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