Comparative analysis of the conceptualization of private property between late scholasticism and 21st century capitalism

Abstract

 For capitalism, as understood by the Austrian School of Econo­mics, individuals have absolute right to their property. In the Christian tradi­tion, however, the principle of the universal destination of goods is upheld, and the right to private appropriation is considered secondary and derived from the first. This justifies, among other things, the rulers’ right to expropria­tion. Those who support the thesis of the scholastic origins of capitalism for­get or ignore this discrepancy.