An Essay on Mediæval Economic TeachingO'Brien, George
History
An Essay on Mediæval Economic Teaching
O'Brien, George
Economics -- History -- To 1800; Property -- History -- To 1500
It is important also to draw attention to the fact that the acceptance
of the economic teaching of the mediæval theologians does not
necessarily imply acceptance of their teaching on other matters. There
is at the present day a growing body of thinking men in every country
who are full of admiration for the ethical teaching of Christianity,
but are unable or unwilling to believe in the Christian religion. The
fact of such unbelief or doubt is no reason for refusing to adopt the
Christian code of social justice, which is founded upon reason rather
than upon revelation, and which has its roots in Greek philosophy and
Roman law rather than in the Bible and the writings of the Fathers.
It has been said that Christianity is the only religion which combines
religion and ethics in one system of teaching; but although Christian
religious and ethical teaching are combined in the teaching of the
Catholic Church, they are not inseparable. Those who are willing to
discuss the adoption of the Socialist ethic, which is not combined
with any spiritual dogmas, should not refuse to consider the Christian
ethic, which might equally be adopted without subscribing to the
Christian dogma.
As we said above, it is no part of our intention to estimate the
relative merits of the solutions of our social evils proposed by
socialists and by Catholic economists. One thing, however, we feel
bound to emphasise, and that is that these two solutions are not
identical. It is a favourite device of socialists, especially in
Catholic countries, to contend that their programme is nothing more
than a restatement of the economic ideals of the Catholic Church as
exhibited in the writings of the mediæval scholastics. We hope that
the foregoing pages are sufficient to demonstrate the incorrectness of
this assertion. Three main principles appear more or less clearly in
all modern socialistic thought: first, that private ownership of the
means of production is unjustifiable; second, that all value comes
from labour; and, third, that all unearned income is unjust. These
three great principles may or may not be sound; but it is quite
certain that not one of them was held by the mediæval theologians.
In the section on property we have shown that Aquinas, following the
Fathers and the tradition of the early Church, was an uncompromising
advocate of private property, and that he drew no distinction between
the means of production and any other kind of wealth; in the section
on just price we have shown that labour was regarded by the
mediævals as but a single one of the elements which entered into the
determination of value; and in the section on usury we have shown that
many forms of unearned income were not only tolerated, but approved by
the scholastics.
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