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An Essay on Mediaeval Economic Teaching
by George O'Brien
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Damnum emergens, 185, 196. nature of, 186. universal admission of, 187. Dante, 216. De Regimine Principum, doubtful authorship of, 20. Delisle, 27. Democratie Chretienne, 199. Deposit, Thomas Aquinas on, 38. Desbuquois, Abbe, 36, 39, 104, 110, 116, 120. Deuteronomy, 163. Devas, 30, 49, 226. Dictionary of Political Economy, 30, 105, 112, 135, 212. Dictionnaire de Theologie, 45. Didache, the, attitude to usury, 168, 170. Diocletian rescript, regarding sales, 104. Distribution, just, the aim of mediaeval teaching, 223. need for just, 31, 227. regulation of, 32. Dominicans, the, 195, 196. Dominium eminens of the State, 69. Donatus, 14. Dublin Review, The, 43. Duns Scotus, 149, 185, 188, 192. Dureau de la Malle, 225.

Ecclesiastes, 151. Eck, 211. 'Economic,' interpretation of, 3, 6 et seq. 'Economic Man,' imaginary figure conceived by classical economists, 8. Economic Review, The, 44. Economics, causes of lack of interest in, 14. Elvira, the Council of, decree against usury, 169. Emperor, the, temporal vicar of God, 11. Encyclopaedia Britannica, The, definition of 'Middle Ages,' 4. Endemann, 19, 20, 23, 27, 34, 108, 120, 124, 134, 151, 155, 157, 158, 177, 186, 187, 190, 191, 195, 196, 203, 204, 216, 218. Ephesians, Epistle to the, 89. Equality, of men, 94. Esdras, 165. Espinas, A., 8, 17, 163, 197, 218. Essenes, the, and communism, 47. Ethics, error of disregarding in economics, 29. Eve, see Adam and. Exchange, regulation of, 32. justice in, 36 et seq. theory of, see Cambium. Exodus, 163. Ezekiel, 165.

Fathers, the, see Church, the early. Favre, 173. Feudalism, increased organisation of, in thirteenth century, 15. Fornication, expressly forbidden by the Apostles, 168. Franciscans, the, 195, 196. Franciscus Patricius de Senlis, 225. Franck, A., 20, 90, 97. Fratricelli, the, belief in communism, 66. Fundamentum, distinction from titulus, 64 et seq. Funk, Dr., 113, 172, 203.

Galileo, 159. Gand, Henri de, 110, 149. Garden of Eden, private property in, 55. Gasquet, 224. Genesis, 137, 226. Genoa, the Archbishop of, 207. letter from Alexander III. to, 187. Gentile, prohibition of usury between Jew and, 164. Gentiles, prohibition of usury not imposed on converts from, 168. taking of usury from, justified, 165. Genucian Law, the, interest prohibited by, 160. Gerbert, 14. Gerdilius, 100. Gerson, 39, 71, 104, 106, 108, 112, 118, 137, 182, 197. Gide and Rist, 9. Golden Age, the, private property in, 55. Gospel, the, preached to the poor, 137. Gospels, the, on usury, 166. Goyau, G., 67, 224.

Haney, L.H., 2, 5, 41, 136. Heeren, A.H.L., 146. Hettinger, 226. Hilary of Poictiers, 60. Hincmar, 14. Hiring, Thomas Aquinas on, 38. Hogan, Dr., 43, 47, 49, 137. Hohoff, Abbe, 114, 199. Hostiensis, 188. Hoyta, Henricus de, 19. Huet, 47. Hunter, W.A., 105, 161. Hunting, see Agriculture.

Idleness, contrasted attitudes of ancient and Christian civilisations to, 137. Income, unearned, approved by scholastics, 113. justice of, 198 et seq. socialist theory of its injustice not supported by scholastics, 214. recognition of, 212. Individualism, of Christianity, 12. Industry, development of, in thirteenth century, 15. Ingolstadt, 211. Ingram, Dr. J.K., 2, 3, 4, 12, 17, 18, 23, 24. Innocent III., Pope, attitude to usury, 175. in favour of unearned income, 207. Insurance, a contract of, 210. Interamna, montes pietatis at, 196. Interesse proximum, suggested alternative term to damnum emergens, 187. Interesse remotum, suggested alternative term to lucrum cessans, 187. Interest, justification of, 184. Interest, laws regarding, in Rome, 160. taking of, disapproved by Greek and Roman philosophers, 161. see also Usury. Irish Ecclesiastical Record, The, 43, 47, 49, 109, 137. Irish Theological Quarterly, The, 9, 68, 128, 129, 130, 132, 135. Isidore, 95. Isidore of Seville, 15. his opinions on money regarded as final, 214. Italian States, forced loans in the, 195. Ivo, 169.

Janet, P.A.R., 59, 61, 89, 91, 93, 97. Jannet, Claudio, 183. Janssen, J., 28, 68, 86, 125, 138, 139, 141, 143, 150, 154, 224. Jarrett, Fr., 83, 84. Jeremiah, 165. Jerusalem, the Church of, social system in, 44 et seq. St. Paul's appeal for funds, 48. the Council of, prohibition of usury not imposed on converts by, 168. Jesuits, the, invention of trinus contractus attributed to, 211. Jewish Encyclopaedia, The, on usury, 165. Jews, attitude to usury, 160, 165. prohibition of usury between, 164. John of Salisbury, 14. Jourdain, 5, 14, 16, 149, 176, 183, 221. Jus abutendi, 87. divinum, 173. humanum, 174. naturale, 173. Just price, a Christian conception, 104. authorities empowered to fix, 108. comparison of mediaeval theory with that of classical economists, 125. difference from modern competition price, 116. elasticity of, 117. factors determining, 109 et seq. Just price, fixed by common estimation, 115 et seq. fixing of, by law, 106. in money-lending, 179. mediaeval teaching on, 103. necessity for adhering to, 108. of wages, see Wages. rules for guidance in fixing by law, 107. nature of, 127 et seq. value of canonical doctrine, 123. Justinian, rates of interest fixed by, 161. Justinian Code, 28, 172.

Kelleher, Father, 129, 130, 131, 132, 133, 134. Knabenbaur, 166. Knies, 80, 114, 135. Koran, the, the taking of interest forbidden in, 166.

Labour, as title to property, 65. Christian teaching on its dignity, 137. division into honourable and degrading, 141. necessity and honourableness of all forms of, 140. only one constituent in the estimation of just price, 157. relative importance of, in determining value, 113. the motives which should actuate, 153. Lactantius, 45, 56 et seq., 91. Langenstein, 19, 107, 111, 112, 121, 122, 124, 137, 141, 203. Larceny Act, the, 27. Lateran Council, the, judgment in favour of montes pietatis, 197. Councils, the, of 1139 and 1179, declaration against usurers by, 174. Laurentius de Rodulphis, 157, 195, 209. Law, natural and positive, in relation to property, 64. Le Blant, 216. Lecky, 176, 211. Leo the Great, 146. Lessius, 117, 124. Letting, Thomas Aquinas on, 38. Levasseur, 138, 139, 224. Leviticus, 163. Liberalitas, its opposing vices, 74. meaning of, 73. Liberality, relation to justice, 73. Lisieux, Bishop of, see Oresme, Nicholas. List, 146, 224. Loan, Thomas Aquinas on, 38. Loans, analogy between sales and, 182. forced, in the Italian States, 195. the real nature of, 178. Locatio operarum, 210, 213. Logic, mediaeval study of, 14. Loria, 149. Lucca, montes pietatis at, 196. Lucrum cessans, 185, 186, 195, 202. recognition of, 187 et seq. Lyons, Council of, ordinances against usurers, 175.

Macleod, 218. Magnificentia, duty of, 77. Maimonides, 164. Malthusianism, 225. Mansi, 169. Mantua, montes pietatis at, 196. Manufacture, position in the artes possessivae, 142 et seq. Marcian Capella, 15. Marriage, attitude of Thomas Aquinas towards, 225. Marshall, 30. Martin V., Pope, his bull on rent, 204. Marx, Karl, theory of value not supported by scholastics, 113, 114. Mastrofini, his interpretation of a verse of St. Luke, 166. Maximian, rescript regarding sales, 105. Mayronis, Francois de, 149, 156. Mediaeval, interpretation of, 3 et seq. Menger, Anton, 199. Merchant, the, necessity for control of, see Commerce. Metz-Noblat, de, 183. Meyer, Rudolph, 198. Middle Ages, definition of the term by various authorities, 3 et seq. early writers of, no reference to economic questions, 13. Milan, 211. Mohammed, prohibition of usury by his followers, 160. Mohammedans, taking of interest by, forbidden, 166. Monasteries, the, their example in manual labour, 138, 223. Money, as a form of capital, 201. a vendible commodity, 158. changing, see Cambium. different kinds of variation of, 219 et seq. ignorance of early Middle Ages regarding, 214 et seq. invention of, 103. most suitable metals for, 219. not discussed by early mediaeval writers, 14. sterility of, 180. the sovereign's power in relation to, 219. treatment of, by Isidore of Seville, 15. utility of, as treated by Aristotle, 16. variations in value of, 216 et seq. value of, not to be changed unnecessarily, 219. Monopolies, mediaeval views on, 124. Montes pietatis, 194. attitude of the Church to, 197. controversy over interest charged by, 196. Montes profani, 195 et seq. Moral theology, 130. Morality, economic, in the Middle Ages, 10. More, Sir Thomas, 48. Mosheim, 44. Munificence, duty of, 77. Mutuum, 202, 210, 213, 214. nature of, 178, 183. risk involved in, 192.

Natural rights, distinction between absolute and commensurate in slavery, 95. Navarrus, 190. Necessaries, two kinds distinguished by Thomas Aquinas, 83. Neumann, 182. New Testament, the, 176. cited in support of prohibition of usury, 174. Nice, Council of, on usury, 169, 170. Nicholas v., Pope, bull on personal rent charges, 205. Nider, 39, 110, 118, 134, 150, 181, 193. Nitti, F.S., 43, 69. Noel, Conrad, 49. Numa, as origin of 'nummi,' 15.

Occupancy, as title to property, 65. Old Testament, the, 176. attitude to usury, 163, 165. cited in support of prohibition of usury, 174. Oresme, Nicholas, 143, 215, 216, 219. his influence, 221. his work on money, 214, 217 et seq. Origen, 45. Orvieto, first montes pietatis started at, 196. Ownership, see Property.

Padua, montes pietatis at, 196. Palgrave, 30, 105, 112, 135, 212. Parma, montes pietatis at, 196. Partnership, division of remuneration, 209. scholastic teaching on, 202, 205 et seq. the two kinds of, 209. Parvificentia, a sin, 77, 78. Patria, potestas, 226. Pelagius, views condemned by Council, A.D. 415, 61. Pennafort, Raymond de, 27, 149. Periculum sortis, 191, 192, 212. Perin, 183, 226. Perugia, montes pietatis at, 196. Philip the Fair, his method of increasing the revenue, 216. Philosophers, the, their condemnation of usury, 161. Pigonneau, 146. Plato, his objection to usury, 161. Plutarch, attitude to usury, 163. Poena conventionalis, 185. difference from interest, 186. Political economy, errors of classical school, 8. difference between mediaeval and modern methods, 6. Pope, the, his denunciation of Philip the Fair, 216. the spiritual vicar of God, 10. Popes, the, and almsgiving, 69. pronouncements by, on rent, 204. their protection of montes pietatis, 197. Population, mediaeval attitude to, 224. Poverty, as the cause of sin, 78. Prescription, as title to property, 65. Price, just, see Just price. Priscian, 14. Prodigality, an offence against liberality, 79. a sin towards the individual and the community, 78. distinction from liberality, 76. Production, an honourable vocation, 226. cost of, as a factor in determining value, 111 et seq. extended, the aim of mediaeval teaching, 223. regulation of, 32. Professions, see Labour. Profit, of the campsor to be determined by just price, 158. 'Profiteer,' the, doctrine of just price a weapon against, 125. Profiteering, prohibition of, 151. Property, duties attaching to, 69. duties in respect of exchange of, 102. immovable, rule for determining value, 120. in human beings, 88. private, duties attaching to, 40. right of, 39. teaching of mediaeval Church, 41 et seq. the foundation of mediaeval economics, 40. the keystone of economic system of later theologians, 66. Proverbs, 165. Prutz, 146. Psalms, 137, 165, 171.

Rabanas Mauras, 14. Rambaud, 7, 8, 13, 80, 87, 100, 114, 146, 151, 182, 183, 188, 197, 203, 213, 215. Reformation, the, 211. attacks on monastic life during, 138. Renaissance, the, 218. Rent, pronouncements on, by the Popes, 204. refusal to pay, in Breslau, 204. scholastic teaching on, 202 et seq. Revue Archeologique, La, 61. Riches, the early Church on their abuse, 53. Rickaby, 75. Risk, remuneration for, 152, 157, 191. Rist, see Gide. Roman Empire, the, fall of, regarded as beginning of Middle Ages, 3. jurists, their views on slavery accepted by Thomas Aquinas, 94. Romans, Epistle to the, 48. Rome, condemnation of usury by the philosophers of, 162. laws regarding interest in, 160. Numa, King of, 15. policy of, enforced by clergy, 11. the attitude to manual labour in, 137. Roscher, W.G.F., 5, 13, 19, 34, 46, 48, 87, 88, 107, 108, 112, 114, 121, 125, 142, 163, 166, 172, 186, 204, 215, 217. Ryan, Dr. J.A., 49, 74, 117, 123, 135.

Sabatier, 223. St. Ambrose, 49, 52, 60, 82, 171. quoted by Aquinas, 71. St. Anselm, 14. St. Anthony, advice to his followers, 223. St. Augustine, 49, 57, 60, 63, 92, 93, 97, 98, 105, 146, 154, 172, 224. theory of slavery analysed by Janet, 93. views on slavery accepted by Aquinas, 94 et seq. St. Barnabas, 45. St. Basil, 49, 153, 171, 224. quoted by Aquinas, 71. St. Benedict, 152. Rule of, 224. St. Clement of Alexandria, 45, 49, 54, 168, 170. St. Clement of Rome, 49, 54. St. Cyprian, 45, 50, 168, 170. St. Gregory Nazianzen, 54. St. Gregory of Nyssa, 171. St. Gregory the Great, 49. St. Hilary, 171. St. Isidore, 62. St. Jerome, 49, 145, 171, 224. St. John Chrysostom, 49, 51, 52. St. Joseph, represented as a carpenter, 139. St. Justin, 45. St. Justin Martyn, 49. St. Lucian, 45. St. Luke, 82. St. Luke, doubtful meaning of a verse in, 168. interpretation of a doubtful verse in, 168, 171. St. Macharius, 223. St. Matthew, 38, 47. St. Pachomius, 223. St. Paul, 137. attitude to private property and communism, 48. on possession, cited by St. Augustine, 60. teaching on slavery, 89. followed by Christian teachers, 90. St. Peter, 46. teaching on slavery, 89. St. Peter Damian, 83. St. Thomas, see Thomas Aquinas. Sale, Roman law as applied to, 104. Thomas Aquinas on, 38. treatment by fifteenth-century writers, 18. Sales, analogy between loans and, 182. Salvador, 48. Salvian, 55. Sapphira, 46, 52. Saturnus, result of banishment from heaven, 56. Saving, an act of liberality, 72 et seq. Scherer, 146. Scotus, Duns, see Duns. Scotus Erigenus, 14. Semaine Sociale de France, La, 49, 62, 68, 104, 111. Seneca, 59, 89, 90. view of usury, 163. Serfdom, 99. Sertillanges, 80. Servus, St. Augustine's theory of origin, 93. Sevona, montes pietatis at, 196. Sicily, personal rent charges permitted in, 205. Sidgwick, Professor Henry, 29, 31. Sinigaglia, 225. Sixtus V., Pope, condemnation of trinus contractus, 211. Slater, Father, 109, 128, 129, 130. Slavery, analogy with property, 97. attitude of Christianity to, 88. limits of master's rights, 100. three kinds of, 99. views of Christian Church and philosophers reconciled by Aquinas, 93 et seq. Smith, Adam, 29. Societas, 206, 207, 210, 213. Socialism, as providing an ethical basis of society, 31. danger of, 32. relation of its economic teaching to Christianity, 33. Socialists, claim to authority of the early Christians, 49 et seq. attempts to construct Utopia, 228. their communism not the 'community of user' advocated by scholastics, 86. their interpretations of St. Augustine, 58. their main principles, 230. their philosophy at variance with Christianity, 231. their principles not derived from mediaeval teaching, 230. their view of the Church's teaching on usury, 198. Socius stans, 207. Solon, laws of, as affecting usury, 160. Songe du Vergier, 225. Stagyrite, the, see Aristotle. Stoic tradition, the, 58. Stoicism, inferiority to Christian teaching on slavery, 89. Stoics, the, 93. Stintzing, 20. Sudre, 47, 48. Summa Angelica, 186. Astesana, 186. Pisana, 156. Superabundance, relativity of, 75.

'Teaching,' interpretation of, 3, 19 et seq. mediaeval, its relation to practice, 21. ethical nature of, 27. Temperance, in the use of goods, 70. Tertullian, 45, 49, 145, 168, 170. Thessalonians, Epistle to the, 137. Thirteenth century, progress made in the, 15. Thomas Aquinas, 7, 16, 17, 18, 19, 20, 36, 41, 42, 46, 52, 62 et seq., 67, 69, 70, 71 et seq., 74 et seq., 77, 78, 80, 81, 82, 83, 84, 85, 91, 93, 94, 95, 96, 97, 99, 101, 105, 111, 112, 114, 117, 119, 121, 131, 132, 133, 135, 136, 141, 143, 144, 146, 147, 148, 149, 150, 151, 154, 156, 162, 167, 173, 174, 176, 182, 186, 188, 189, 193, 194, 195, 197, 206, 207, 208, 215, 230. Ticinum, Synod of, decree on usury, 173. Tillage, see Agriculture. Time, the sale of, 182. Timothy, 151. Titulus, distinction from fundamentum, 64. Tractatus Universi Juris, 19. Tradesman, see Commerce. Trade, see Commerce. Troplong, 226. Trinus contractus, 210, 211. Trithemius, 85, 124, 137, 149. Twelve Tables, the, maximum rate of interest fixed by, 160.

Unciarum foenus, doubtful meaning of, 160. Usufruct, Aquinas on, 38. Usurers, see Usury. Usury and the clergy, 169. a sin against justice, 175. attitude of the Apostles, 168. attitude of various religious and legal systems, 160. borrowing at, circumstances justifying, 194. broader basis of discussion after twelfth century, 173. dealt with by ecclesiastical courts, 175. condemned by Councils, 13. by philosophers, 161, 162. as a sin against charity, 168, 171. controversies over prohibition, 159. definition of, by Lateran Council, 197. doubt as to Gospel teaching on, 167. Usury, ecclesiastical legislation on, 174. inconclusive teaching of the early Church, 172. increased payment for credit regarded as, 119. injustice of, according to Aristotle, 16. in the Old Testament, 163. not suppressed by civil law, 172. patristic and episcopal utterances in favour of, 172. not permitted by civil authorities, 197 et seq. popular attitude to, 163. prohibition of, 133, 173, 183, 184. proof of justice of unearned income, 213. position in canonist doctrine, 33. not imposed on converts from Gentiles, 168. secular legislation in favour of, declared void, 175. teaching of the early Church, 167 et seq. treatment by fifteenth-century writers, 18.

Value, factors determining, 129. not systematically treated till fourteenth and fifteenth centuries, 111. See also Price. Vaudois, the, belief in communism, 66. Verona, montes pietatis at, 196. Vienne, Council of, 175. Vio, Thomas da, 196. Virgin, the Blessed, represented spinning, 139. Virginity, recommended for the few, 225. Viterbo, montes pietatis at, 196.

Wages, rules determining, 120. as factor in cost of production, 111. attitude of mediaeval and modern working classes towards fixing, 126 et seq. fixed by a public authority, 121. Wages, paucity of authority on, before sixteenth century, 121. Wallon, 90, 137, 140. Wealth, theory of, according to Aristotle, 16. Wealth, not an end in itself, 80. Weber, 206. William of Paris, 176. Wolowski, 216, 217, 221.

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