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Just price - Wikipedia

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The just price is a theory of ethics in economics that attempts to set standards of fairness in transactions. With intellectual roots in ancient Greek philosophy, it was advanced by Thomas Aquinas based on an argument against usury, which in his time referred to the making of any rate of interest on loans. It gave rise to the contractual principle of laesio enormis. The argument against usury was that the lender was receiving income for nothing, since nothing was actually lent, rather the money was exchanged. Furthermore, a dollar can only be fairly exchanged for a dollar, so asking for more is unfair. Aquinas later expanded his argument to oppose any unfair earnings made in trade, basing the argument on the Golden Rule. The Christian should "do unto others as you would have them do unto you", meaning he should trade value for value. Aquinas believed that it was specifically immoral to raise prices because a particular buyer had an urgent need for what was being sold and could be persu

Just price - Wikipedia Jump to content From Wikipedia, the free encyclopedia Theory of ethics in economics St. Thomas Aquinas taught that raising prices in response to high demand was a type of theft. The just price is a theory of ethics in economics that attempts to set standards of fairness in transactions. With intellectual roots in ancient Greek philosophy , it was advanced by St. Thomas Aquinas based on an argument against usury , which in his time referred to the making of any rate of interest on loans . It gave rise to the contractual principle of laesio enormis . Part of a series on Th

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