Some reflections on scholastic economic thought

Introduction to the method

Abstract

In the thirteenth and fourteenth centuries there was an attempt to harmonize business activity given the ethical standards attuned to the rapid development of transnational business and the consequent political and so­cial changes. But also, at that time, a tension began to emerge between the autonomy of the analysis of economic facts and the still strong attachment to the theological perspective. This article reflects on scholastic economic thought, its relationship with ethics and its impact on the history of Western civilization. It also studies the culture and society of that time; exposes Duns Scotus’ thought and subjective utility; and outlines concepts such as need, prices, usury and interest.