Beschreibung:
This book is a study in the history of economic thought. It deals with the economics of exchange, that is, with prices, wages and interest rates. Those who pay a certain price or interest rate, or work at a certain wage, may agree to do so because they are in economic need. They are thus in a sense compelled and not free to choose. This problem was first discussed by teachers in the medieval universities. This book follows the discussion from the Middle Ages to the present.
Preface; Introduction; Part I. Compulsion and the Will: Three Ancient Traditions: 1.The Aristotelian tradition; 2. The Roman law tradition; 3. The Augustinian tradition; Part II. Need as Compulsion: The Scholastic Paradigm: 4. Loans and usury; 5. Price and market manipulation; 6. Need and the will in buying and selling; 7. Labor and wages; Part III. Rejection and Revival in Postscholastic Thought: 8. Hobbes: the antithesis; 9. The economics of natural law; 10. The neoclassical system and its critics; Bibliography; Index.