How Just Is the Market Price? A Study of the Just Price in the Writings of St. Thomas Aquinas and Bl. John Duns Scotus

13 Pages Posted: 29 Mar 2017

Date Written: August 2, 2016

Abstract

This paper looks into the scholastic definitions of the “just price” in the writings of St. Thomas Aquinas (1225-1274) and Bl. John Duns Scotus (1265-1308) and investigates whether they are conceptually different from the current “market price”. A specific focus is on whether government intervention to regulate the markets could be justified under the doctrine of just price.

Keywords: just price, market price, Thomas Aquinas, Duns Scotus, government intervention, regulation

JEL Classification: A12, B11, B31

Suggested Citation

Laurinaityte, Nora, How Just Is the Market Price? A Study of the Just Price in the Writings of St. Thomas Aquinas and Bl. John Duns Scotus (August 2, 2016). Available at SSRN: https://ssrn.com/abstract=2939703 or http://dx.doi.org/10.2139/ssrn.2939703

Nora Laurinaityte (Contact Author)

Bank of Lithuania ( email )

Totoriu 4
Vilnius, LT-01121
Lithuania

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