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The Modern Schoolman

Volume 89, Issue 1/2, January/April 2012

The Variety of Second Scholasticism

Alfredo Culleton
Pages 9-24

Second-Scholastic Philosophy of Economics
Tomás Mercado’s Theory of Just Price

This article discusses the intricate relationship between moral theology and economics of the Second Scholasticism developed in the colonies. Its concrete topic is the theory of just price of Tomás de Mercado, who became a classic because of his direct and at the same time scholarly language. The topic of fair or just price, which is not new in scholastic moral theology, is treated by him in a philosophical manner, using an original view based on practical rationality which caused his work to be reprinted several times.

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