The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Scholastic Economics

  • Odd Langholm
Reference work entry


For approximately four centuries prior to the Reformation and the break-up of Christianity, major advances in economic ethics and analysis were made by representatives of medieval scholasticism. Theologians and philosophers, aided by canonists and Romanists, the scholastics aimed at moral instruction based on an understanding of economic phenomena and relationships. Condemning avarice, fraud and economic coercion, they dealt with trade and price, money and usury, labour and wages. They thus forged a link between ancient and early modern economic thought.


Albert the Great Aquinas, St. T Aristotle Barter Bullion Collusion Exchange Fraud Just price Metallist theory of money Monopoly Price discrimination Salamanca school Scholastic economics Specie Truck Usury Utility 

JEL Classification

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Odd Langholm
    • 1
  1. 1.