Aristotle and the Capacity of a Status-theory of Exchange

Ivan Katzarski ()
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Ivan Katzarski: BAS, Sofia, Bulgaria

Ikonomiceski i Sotsialni Alternativi, 2017, issue 3, 106-117

Abstract: The paper compares Aristotle’s view on exchange relationship with modern economic theories (classical and neoclassical, orthodox and heterodox). Various interpretations of reciprocal exchange in Aristotle are analyzed, and a new reading of it is presented. The view is ground­ed that the ancient philosopher has formulated the principle of a status-theory of exchange according to which market subjects own vari­ous resources in quantity and quality. The latter respectively determine a different status which in its turn controls their economic results. The author also thinks that this principle is valid not only for the ancient society but also for every market economy including capitalist one. By this principle, in fact, Aristotle establishes a common ground of economic and sociological analysis.

Keywords: Aristotle; exchange; status; competition; market; price; profit (search for similar items in EconPapers)
JEL-codes: B00 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:iisabg:y:2017:i:3:p:106-117

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