Thomas Aquinas on Price - Dictionary of Arguments
Mause I 29
Price/Economy/Thomas Aquinas: Based on the principle of commutative justice in Aristotle, Thomas Aquinas defines the fair price ("ius pretium") as the price at which performance and return service correspond. And, contrary to the current view, this is not necessarily the case with every (voluntary) market transaction, but only if the price covers the work deployed and the other costs. The decisive factor in determining the fair price is therefore supply, whereas demand is irrelevant.
Since a cost-covering price is guaranteed and profits are limited, economic structural change (...) is made more difficult._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
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