Sourcebook in Late-scholastic Monetary Theory: The Contributions of Martín de Azpilcueta, Luis de Molina, S.J., and Juan de Mariana, S.J.

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Stephen J. Grabill
Lexington Books, 2007 - 362 páginas
The Sourcebook in Late-Scholastic Monetary Theory is a thematically unified collection of seminal texts in the history of economics on the topic of money and exchange relations (cambium)_its nature, purpose, value, and relationship to justice and morality in financial transactions_within the tradition of late-scholastic commercial ethics. Cambium embraces the development of banking practices and institutions in early modern Europe and, therefore, is much broader in scope than the simple practice of exchanging currency. Here, for the first time, the unabridged texts of Mart'n de Azpilcueta's Commentary on the Resolution of Money (1556), Luis de Molina's A Treatise on Money (1597), and Juan de Mariana's Treatise on the Alteration of Money (1609) are available in English translation with scholarly annotations. The publication of these foundational texts under a single cover will stimulate exploration of the continuities and discontinuities, agreements and disagreements, innovations and ruptures within the Salamancan tradition of commercial ethics during the latter half of the sixteenth and the early seventeenth century. A close reading shows that the Salamancans were involved not only in an internal conversation within Spain concerning inflation, usury, rates of currency exchange, currency debasement, subjective value, just prices, and so on, but also that they were critical intermediaries in a wider conversation spanning centuries that includes prominent canonists, jurists, philosophers, and theologians. The Salamancans also serve as conduits of scholastic economic reflection to Adam Smith and the political economists of the seventeenth and eighteenth centuries. The texts (in conjunction with the introductions by leading authorities) demonstrate the sophistication with which the Spanish doctors examined the new process of using bills of exchange (cambium per litteras) to replace the cumbersome and dangerous transportation of metallic coins between commercial fairs, which led not only to new scholastic insights on interest, credit, and international trade, but also to a much more comprehensive analysis of monetary exchange and banking practices than had been undertaken before.
 

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Conteúdo

Text Interpretation
21
Concept and Types of Exchanges
29
The Origin and Functions of Money
33
Just and Licit Exchange
37
Exchanging as a Profession
41
Exchange for Small Coinage
45
Exchanging for Bills of Exchange
49
Exchanging by Transference
55
Argument 407
201
Argument 408
207
Argument 409
215
Argument 410
221
Notes
231
A Treatise on the Alteration of Money 1609
239
Introduction
241
Argument
249

Exchanging for an Interest
57
Exchanging by Safekeeping
59
Exchange by Buying Bartering or Innominate Contract
63
The Value of Money
69
Money That Is Present and Money That Is Absent
77
International Credit and Exchange
81
Notes
91
Treatise on Money 1597
109
Introduction
111
Argument 396
139
Argument 397
143
Argument 398
151
Argument 399
155
Argument 400
161
Argument 401
171
Argument 402
177
Argument 403
181
Argument 404
185
Argument 405
193
Argument 406
197
Preface
251
Does the King Own His Subjects Goods?
253
Can the King Demand Tribute from His Subjects Without Their Consent?
255
Can the King Debase Money by Changing Its Weight or Quality Without Consulting the People?
259
The Twofold Value of Money
261
The Foundations of Commerce Money Weights and Measures
265
Money Has Frequently Been Altered
267
Advantages Derived from Alteration of Copper Money
271
Different Maravedis of Varying Values in Castile
273
Disadvantages Derived from This Alteration of Copper Money
279
The Major Disadvantages Derived from This Alteration of Money
283
Should Silver Money Be Altered?
289
Concerning Gold Money
295
Is There Some Way to Assist the Prince in His Need?
299
Notes
305
Works Cited
329
Contributors
343
Index
345
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Sobre o autor (2007)

Stephen J. Grabill is research scholar in theology at the Acton Institute for the Study of Religion and Liberty. He is founding editor of Journal of Markets & Morality.

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