HoP 453 - The Price is Right - Law and Economics in the Second Scholastic
History of Philosophy Without Any Gaps
Deep Dive
Why did the second scholastics believe that a legitimate authority can make morally indifferent actions into sins or virtues?
They argued that a rightful government can impose moral obligations on actions that are otherwise morally neutral by forbidding or requiring them. However, this power does not extend to intrinsically just or unjust actions.
What is the distinction between natural law and human law according to the scholastics?
Natural law consists of precepts that are inherent to human nature and cannot be changed by any human authority. Human law, on the other hand, builds on natural law and can impose additional obligations, but must remain consistent with natural law.
How did the scholastics view the relationship between natural law and human reason?
For thinkers like Vitoria, natural law and human reason are essentially the same, as the precepts of natural law are the conclusions of practical reasoning. Others, like Suarez, argued that divine commands are necessary to create obligations, even though the natural badness of actions like murder is known through reason.
What role did the law of nations (ius gentium) play in the scholastics' thinking?
The law of nations was seen as a set of rules arising from a tacit agreement among all peoples to follow certain norms, allowing for peaceful coexistence. It was based on natural law but added specific obligations, such as property rights and the regulation of relationships between states.
How did the scholastics justify the introduction of slavery under the law of nations?
Molina argued that slavery was introduced by the law of nations, even though all humans are naturally free. It was justified in cases of just war or when individuals voluntarily enslaved themselves as a last resort for survival.
What was the scholastics' stance on price regulation and market forces?
While some, like Tomas de Mercado, supported government intervention in pricing to benefit society, others, like Molina, believed that prices should reflect the natural price determined by market forces. Molina argued that government interference often favored the wealthy over the poor.
How did the scholastics approach the ethical dilemma of usury?
They sought a middle ground, allowing for the charging of interest to cover the costs and risks of lending, but not for excessive profit. The correct amount of interest was determined by the lender's actual costs and missed opportunities, similar to how the just price of goods was determined.
What was the scholastics' view on the relationship between money and capital?
They recognized that money could be a form of capital, capable of generating value through investment. However, they emphasized that lenders should only be fairly compensated for their risks and missed opportunities, rather than seeking profit.
- Dispute over the morality of breaking unjust laws
- Conflict between personal ethics and legal obligation
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