A Short History of the “Just Price” Controversy in the XII-th and XIII-th Centuries

Andreas Stamate

Romanian Economic Journal, 2011, vol. 14, issue 39, 257-270

Abstract: This paper analyzes the contributions of some of the pre-scholastic and scholastic writers on the doctrine of the “just price”. According to their perspective it is difficult to establish an objective method for discovering the “just price” of goods on the market. On the contrary, they portrayed a theory in which the only instance that ultimately determines the price of goods is the subjective evaluations of those involved in the process of buying and selling. Moreover, the “justice” of an exchange of goods or price, results directly from the absence of fraud or violence. Therefore, a price is “just” if it is voluntarily set and accepted by parties.

Keywords: just price; scholastics; morality; marginal; subjective (search for similar items in EconPapers)
JEL-codes: B11 B53 (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.rejournal.eu/sites/rejournal.versatech. ... 109/stamate-je39.pdf (application/pdf)

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:rej:journl:v:14:y:2011:i:39:p:257-270

Access Statistics for this article

Romanian Economic Journal is currently edited by Ioan Popa, PhD

More articles in Romanian Economic Journal from Department of International Business and Economics from the Academy of Economic Studies Bucharest Contact information at EDIRC.
Bibliographic data for series maintained by Radu Lupu ().