Sourcebook in Late-scholastic Monetary Theory: The Contributions of Martín de Azpilcueta, Luis de Molina, S.J., and Juan de Mariana, S.J.
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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Concept and Types of Exchanges
The Origin and Functions of Money
Just and Licit Exchange
Exchanging as a Profession
Exchange for Small Coinage
Exchanging for Bills of Exchange
Exchanging by Transference
A Treatise on the Alteration of Money 1609
Exchanging for an Interest
Exchanging by Safekeeping
Exchange by Buying Bartering or Innominate Contract
The Value of Money
Money That Is Present and Money That Is Absent
International Credit and Exchange
Treatise on Money 1597
Does the King Own His Subjects Goods?
Can the King Demand Tribute from His Subjects Without Their Consent?
Can the King Debase Money by Changing Its Weight or Quality Without Consulting the People?
The Twofold Value of Money
The Foundations of Commerce Money Weights and Measures
Money Has Frequently Been Altered
Advantages Derived from Alteration of Copper Money
Different Maravedis of Varying Values in Castile
Disadvantages Derived from This Alteration of Copper Money
The Major Disadvantages Derived from This Alteration of Money
Should Silver Money Be Altered?
Concerning Gold Money
Is There Some Way to Assist the Prince in His Need?
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Sourcebook in Late-Scholastic Monetary Theory: The Contributions of Martin ...
Stephen J. Grabill
Visualização parcial - 2007
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Página xxxi - Andrew Dickson White, A History of the Warfare of Science with Theology in Christendom (2 vols.; New York, 1897).
Página xxix - The natural form, therefore, of the art of acquisition is always, and in all cases, acquisition from fruits and animals. That art, as we have said, has two forms: one which is connected with retail trade, and another which is connected with the management of the household. Of these two forms, the latter is necessary and laudable; the former is a method of exchange which is justly censured, because the gain in which it results is not naturally made, but is made at the expense of other men.
Página xxiv - It is within their systems of moral theology and law that economics gained definite if not separate existence, and it is they who come nearer than does any other group to having been the 'founders
Página xxix - ... which currency was meant to serve. Currency came into existence merely as a means of exchange; usury tries to make it increase [as though it were an end in itself]. This is the reason why usury is called by the word we commonly use [the word tokos, which in Greek also means 'breed...
Página xxix - ... laudable; the former is a method of exchange which is justly censured, because the gain in which it results is not naturally made from plants and animals, but is made at the expense of other men.