A Certain Seminal Character of Profit which We Commonly Call “Capital”: Peter of John Olivi and the Tractatus de contractibus

Franco Giuseppe () and Nickl Peter ()
Additional contact information
Franco Giuseppe: Faculty of Theology, Catholic University of Eichstätt-Ingolstadt, Eichstätt, Germany; Faculty of Philosophy, University of Salento-Lecce, Italy
Nickl Peter: Department of Philosophy, University of Regensburg, Regensburg, Germany

Journal for Markets and Ethics, 2018, vol. 6, issue 1, 11-20

Abstract: Tractatus de contractibus shows that there are mainly three fundamental economic views that characterize the originality and the acuteness of Olivi’s thought: a subject-based theory of value, a theory of just price, and the theoretical–systematic use of the concept of capital. Olivi’s distinction between simply sterile money and fertile, lucrative money – called capitale (capital) – is central. His – at that time – revolutionary thought challenges the theory of money as a mere means of exchange; he acknowledged the legitimacy of trade and the added value (valor superadiunctus) of capital. Thus, he allowed a price as compensation or as remuneration for the owner’s foregone use of the capital. This is not a mere scholastic subtlety, but it is a serious attempt to grasp different phenomena with different concepts.

Keywords: Peter of John Olivi; Economic ethics; Just price; Theory of value; Theory of capital (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/jome-2018-0022 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:jmaeth:v:6:y:2018:i:1:p:11-20:n:3

DOI: 10.2478/jome-2018-0022

Access Statistics for this article

Journal for Markets and Ethics is currently edited by Christian Müller

More articles in Journal for Markets and Ethics from Sciendo
Bibliographic data for series maintained by Peter Golla ().