The Thirteenth-Century Economics of Thomas Aquinas

In the Middle Ages, discourse on economics, such as it was, proceeded for the most part as an application of theological doctrine. But economic analysis as an independent discipline per se was taking shape in thirteenth-century scholasticism. This is shown by a review of relevant sections of Thomas Aquinas' Summa theologiae regarding property rights and the division of labour; wealth and income policies; consumer protection and fair trade; and the distinction between usurious and licit financial returns.