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
Aquinas, who, as we have seen, recognised the necessity of commerce,
did not condemn all trade indiscriminately, as the Fathers had done,
but made the motive with which commerce was carried on the test of its
legitimacy: 'Trade is justly deserving of blame, because, considered
in itself, it satisfies the greed for gain, which knows no limit, and
tends to infinity. Hence trading, considered in itself, has a certain
debasement attaching thereto, in so far as, by its very nature, it
does not imply a virtuous or necessary end. Nevertheless gain, which
is the end of trading, though not implying, by its nature, anything
virtuous or necessary, does not, in itself, connote anything sinful
or contrary to virtue; wherefore nothing prevents gain from being
directed to some necessary or even virtuous end, and thus trading
becomes lawful. Thus, for instance, a man may intend the moderate gain
which he seeks to acquire by trading for the upkeep of his household,
or for the assistance of the needy; or again, a man may take to trade
for some public advantage--for instance, lest his country lack the
necessaries of life--and seek gain, not as an end, but as payment for
his labour.'[1] This is important in connection with what we have said
above as to property, as it shows that the trader was quite justified
in seeking to obtain more profits, provided that they accrued for the
benefit of the community. This justification of trade according to the
end for which it was carried on, was not laid down for the first time
by Aquinas, but may be found stated in an English treatise of the
tenth century entitled _The Colloquy of Archbishop Alfric_, where,
when a doctor asks a merchant if he wishes to sell his goods for the
same price for which he has bought them, the merchant replies: 'I do
not wish to do so, because if I do so, how would I be recompensed for
my trouble? but I wish to sell them for more than I paid for them so
that I might secure some gain wherewith to support myself, my wife,
and family.'[2]
[Footnote 1: II. ii. 77, 4.]
[Footnote 2: Loria, _Analysi de la proprietà, capitalista_, ii. 168.]
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