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
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: Suggested Citation