Gabriel Biel (1410–1495): At the Crossroads of Pragmatism and Dogmatism

Jan Greitens ()
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Jan Greitens: Johann Wolfgang Goethe-Universität

Chapter Chapter 6 in Currency and Credit Money, 2026, pp 67-72 from Springer

Abstract: Abstract This chapter presents Gabriel Biel’s monetary theory as a late scholastic refinement of Oresme’s ideas. Biel maintains a metallist view of money but adopts a more pragmatic stance, allowing coin debasement under specific conditions, such as scarcity or fiscal necessity. He presents moral and legal considerations, emphasizing community consent and the common good. This chapter highlights Biel’s acceptance of arbitrage and his justification of temporary devaluation, reflecting changing economic realities. While retaining a focus on money as a store of value, Biel expands scholastic monetary theory by incorporating practical policy considerations, though he continues to ignore credit money.

Date: 2026
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DOI: 10.1007/978-3-032-24113-9_6

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