An Essay on Mediaeval Economic Teaching

or demerits of the system which we have but briefly sketched. All that we have attempted to do is to present the doctrines in such a way that the reader may be

d; but we think it well to inquire briefly how far the teaching of the Church on economic matters was calculated to interfere with material progress. This is the lowest standard by which we can judge the medi?val economic teaching, which was essentially aimed at the moral and spiritual elevation of mankind; but it is a standard which it is worth while to apply, as it is that by which the doctrines of the scholastics have been

mitators to busy themselves with meditation, prayer, and the labour of their hands, and had promised that the fear of God would reside in those who laboured at corporal works; and similar exhortations were to be found in the rules of Saints Macarius, Pachomius, and Basil.[2] St. Augustine and St. Jerome recommended that all religious should work for some hours each day with their hands, and a regulation to this effect was embodied in the Rule of St. Benedict.[3] The example of educated and holy men voluntarily taking upon themselves the most menial and tedious employments must have act

atier, L'Eglise et l

d'Economie so

oire des Classes ouvrières e

: Reg. St.

tional System of Poli

History of the German

, Autour du Catholicisme sociale, vol. ii. pp. 79-118; Gasqu

i. p. 305. See Goyau, Autour du Cathol

have occurred to the writers of the Middle Ages;[1] on the contrary, a rapidly increasing population was considered a great blessing for a country.[2] This attitude towards the question of population d

op. cit., p. 235, q

a Populazione in Ital

na, 1

sm is to be found in the much-discussed Songe du Vergier, book ii. chaps. 297-98, and Franciscus Patricius de Senis, writing at

e la Malle, 'Mémoire

,' Mémoires de l'Acadé

res, vol. x

t up as good and valuable citizens.[1] While voluntary virginity is recommended as a virtue, it is nevertheless distinctly recognised that the precept of virginity is one which by its very nature can be practised by only a small proportion of the human race, and that it should only be practised by those who seek by detachment from earthly pleasures to regar

mma Cont. Gent.

Summa, II. ii

: De Reg. P

e 4: Gen

De Reg. Pri

the institution of the family had been reconstituted by moderating the harshness of the Roman domestic rule (patria potestas), by raising the moral and social position of women, and by reforming the sy

Cossa, Guide, p. 99; Devas, Political Economy, p. 168; Périn, La Richesse dans les Soci

monuments of that era, which have survived the intervening centuries of decay and vandalism, are a striking testimony to the perfection of product

the elaboration of a highly developed code of regulation as to the manner in which it should be enjoyed. We do not wish to weary the reader with a repetition of that which we have already fully discussed; it is enough to call attention to the fact that the golden mean of con

nt that the study of its doctrines is most valuable. As we said above, the modern world has become convinced by bitter experience of the impracticability of mere selfishness as the governing factor in distribution; and the economic thought of the time is concentrated upon devising some new system of society which shall be ruled by justice. On the one hand, we see socialists o

c teaching was expressly designed to influence the only constant element in human society at every stage of economic development. Methods of production may improve, hand may give place to machine industry, and mechanical inventions may revolutionise all our conceptions of transport and communication; but there is one element in economic activity that remains a fixed and immutable factor throughout the ages, and

ian 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 s

pe 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 medi?val theologians. In the section on property we have shown

in its character of an economic system, and all we have attempted to show is that, as an economic system, it finds no support in the teaching of the scholastic writers. We do not pretend to suggest which of these two systems is more like

N

ard,

the Apos

sm in,

m,

y the result of

tions, position in ar

manus, 98,

tion in artes pos

gement reco

us, 16, 82, 1

he, belief in

uin

of Hales

r III.,

e to us

olloquy of Ar

s justice, no

of,

nt by the

edi?val teac

y Church

n, a vi

de Vignate

as, 4

of economic t

riglis de Per

, 87, 1

ence, 9, 68, 79,

le, the, see A

attitude to man

vate property a

e to us

nication expressly

egarding s

, belief in c

see Thoma

rent charges pe

re, see Ma

Giuridi

ant

36, 97, 98, 142,

or Thomas A

s Aquinas to his

his influ

intained through

ry opposed to that

ntroversies of

n medi?val

study

ld,

cuniativ

ossessi

recommended by

bius

6, 7, 18, 21, 23, 2

, 146, 149, 175, 1

, 197, 198, 202, 2

, 2

nians,

icholas

fence against

ndividual himself a

vity o

ecessary basis

of Inwit,

s, 18

ousia], a s

bbas

, Dr. V.

olus

illar

Vincent

, belief in

Pope, an ency

gni,

ier,

of Siena,

06, 107, 108, 112, 11

85, 205, 20

Oresme's su

qui,

munistic tea

k, 174, 20

contract

Sebasti

10, 13, 19, 21, 66, 1

, 181, 208, 215, 2

usal to pay

o Latin

, see Ma

77, 78, 109, 110, 143

abour, 137, 223. attitude to slavery, 88. foundations and origin of its code of social justice, 229. Christianity, influence in abolition of Roman slavery, 99 et seq. possibility of adopting ethics without dogmas of, 229. reformation of family life by, 226. relation of economic teaching of, to socialism, 33. social theory of, 12. Church, economic teaching of the medi?val, 12. the, attitude to commerce at end of the Middle Ages, 152. the, attitude to monies pietatis, 197. the, effect of economic teaching of, on material progress, 223. the, necessity for understanding economic teaching of, 32. the, principles followed by, in fixing price, 114. the, prohibition of usury not peculiar to, 160. the, socialist view of its teaching on usury, 198. the early, 230. the early teaching on usury, 167 et seq. Cicero, 56, 58, 162. Civil Law, Commentaries on, a source of knowledge of Christian economic teaching, 13. Civilisation, result of its advance in the thirteenth century, 15. Classical economists, recent reaction against, 29. Cleary, Dr., 35, 135, 160, 161, 162, 163, 164, 165, 166, 167, 168, 169, 170, 171, 172, 173, 174, 175, 185, 186, 187, 188, 191, 192, 193, 196, 197, 205. Clement of Alexandria, see St. Clement. of Rome, see St. Clement. Clergy, the, and usury, 169. the, prohibition of trading by, 151. Coinage, see Money. Collegantia, 207. Colloquy of Archbishop Alfric, The, 149. Commenda, the, 206. Commendatarius, the, 207. Commendator, the, 207. Common estimation, of just price not the final criterion, 134. Commerce, attitude of later fifteenth century to, 150. attitude of medi?val theologians to, 136. attitude of the Church at end of Middle Ages, 152. condemnation

mergens,

e of,

admissio

te,

cipum, doubtful

sle,

e Chrétie

homas Aqui

é, 36, 39, 104,

ronom

30, 4

tical Economy, 30,

re de Théo

attitude to us

cript, regardi

, the aim of medi?

r just,

tion o

ns, the,

inens of th

tus,

Review,

s, 149, 18

e la Mal

iastes

, 2

terpretation o

ry figure conceived by

Review,

es of lack of i

cil of, decree a

temporal vic

nica, The, definitio

7, 34, 108, 120, 124, 1

, 191, 195, 196, 2

Epistle t

y, of m

as,

, 8, 17, 16

he, and co

f disregarding

ee Ada

regulati

in, 36

of, see

us,

iel,

, see Church

re,

organisation of, in t

ssly forbidden by

ns, the,

atricius de

A., 20

he, belief in

tinction from ti

., 113,

leo,

nri de,

n, private pr

uet,

s, 137

Archbisho

Alexander

ion of usury betw

of usury not imposed

ury from, ju

he, interest pr

ert,

lius,

4, 106, 108, 112,

and R

he, private p

preached to t

the, on u

G., 6

H., 2, 5,

, A.H.

nger,

f Poicti

mar,

omas Aquin

., 43, 47

Abbé,

ensis

Henricu

t,

W.A.,

see Agr

titudes of ancient and

,

d, approved by

of, 19

s injustice not suppor

ition

sm, of Chri

ment of, in thirt

stadt

., 2, 3, 4, 12,

Pope, attitud

f unearned

a contrac

montes piet

ggested alternative te

8

ested alternative term

justificat

s regarding,

ed by Greek and Roma

lso U

al Record, The, 43

rterly, The, 9, 68, 1

ore,

of Sev

money regarded

s, forced loa

, 1

., 59, 61, 8

Claudi

86, 125, 138, 139, 14

, Fr.,

miah

rch of, social sys

appeal fo

tion of usury not impos

on of trinus contract

opaedia, The,

ude to usur

of usury b

Salisb

14, 16, 149,

buten

num,

num,

rale

Christian co

empowered

theory with that of cla

modern competi

city o

termining,

by common estima

of, by

y-lendi

teachin

for adheri

es, se

dance in fixi

of, 127

nonical doc

es of interest

n Code,

r, 129, 130, 13

nbaur

80, 1

aking of interest

title to pr

ching on its

honourable and

nourableness of

t in the estimation

nce of, in deter

which should

, 45, 56 e

, 111, 112, 121, 122

Act, t

judgment in favour o

and 1179, declaration a

Rodulphis, 1

ositive, in relati

lant

, 176

e Grea

s, 117

homas Aqui

r, 138,

icus,

its opposin

ng of

relation to

op of, see Or

146,

mas Aquin

gy between s

the Italian

nature

perarum,

di?val st

ia,

tes pietat

ans, 185, 1

on of, 18

, ordinances agai

eod,

ntia, dut

nides

sianis

si,

ntes pieta

on in the artes pos

n Cape

de of Thomas Aqu

hall

pe, his bull

value not supported by

erpretation of a ve

cript regardi

Fran?ois d

terpretation

, Anto

essity for control

blat, d

Rudol

of the term by various

o reference to econ

an,

tion of usury by

ng of interest by

heir example in man

form of ca

le commo

g, see

s of variation

y Middle Ages reg

ion of

ble metals

by early medi?

ity of

s power in rel

by Isidore o

s treated by

in value of

o be changed un

medi?val v

pietati

f the Chur

er interest ch

ofani, 19

theolo

omic, in the M

ir Thom

eim,

nce, dut

02, 210,

of, 1

volved

inction between abso

avery

rrus

nds distinguished b

ann,

ament, t

t of prohibitio

l of, on usu

bull on personal

0, 118, 134,

F.S.,

Conr

rigin of '

s title to p

ament, t

to usury,

t of prohibitio

olas, 143, 2

fluenc

money, 214

gen

montes pietatis

p, see P

tes pietat

0, 105, 112

tes pietat

ivision of rem

aching on, 20

kinds

ntia, a s

potest

ondemned by Counc

Raymond d

sortis, 19

, 183

ntes pietat

s method of increas

, their condemnat

neau,

objection t

ttitude to

nvention

from inte

y, errors of cla

en medi?val and

nunciation of Phi

ual vicar

, and alms

ents by, o

ion of montes

medi?val att

the cause

as title to

st, see J

cian

offence agains

individual and t

n from lib

n honourable

or in determining

aim of medi?va

tion o

ons, see

sor to be determine

trine of just price a

g, prohibit

uties attac

spect of exc

e for determin

an bei

ties attach

t of

edi?val Churc

n of medi?val

nomic system of lat

erbs

tz,

137, 1

s Maur

87, 100, 114, 146, 15

213

tion, t

onastic life

ance, t

ements on, by

pay, in B

teaching on

héologiqu

rly Church on

aby,

ration for,

see

l of, regarded as begi

on slavery accepted b

pistle to

of usury by the p

ding inter

King o

enforced by

to manual l

, 19, 34, 46, 48, 87,

63, 166, 172, 18

A., 49, 74,

tier

, 49, 52, 6

by Aqui

nselm

dvice to his f

60, 63, 92, 93, 97, 98,

very analysed

accepted by Aqu

arnab

, 49, 153

by Aqui

nedict

of,

lexandria, 45, 4

nt of Rom

n, 45, 50,

ory Nazi

ory of N

ory the

ilary

sidor

, 49, 145,

hrysostom,

presented as a

ustin

tin Mar

ucian

Luke

ful meaning of

f a doubtful ver

chariu

tthew,

chomiu

Paul

vate property a

cited by St.

on slav

Christian

Pete

on slav

er Dami

, see Thom

law as app

Aquinas

ifteenth-centu

gy between l

ador

ian,

ira,

t of banishment

t of liberali

rer,

Duns,

Erige

e France, La, 49,

, 59,

f usur

dom,

llang

ustine's theory

ntes pieta

rent charges pe

rofessor He

aglia

ondemnation of tri

her, 109, 1

alogy with

f Christia

master's r

kinds

Church and philos

s, 93

, Ada

206, 207

iding an ethical b

er o

onomic teaching to

uthority of the early

construct

t the 'community o

astic

tations of St.

n princip

at variance with

t derived from medi

e Church's teach

stans

f, as affecti

u Vergi

the, see

adition,

ty to Christian tea

s, th

tzin

e, 4

Angeli

sana

na,

nce, relati

terpretation o

relation to

nature

in the use o

45, 49, 14

ns, Epistle

ury, progress m

6, 17, 18, 19, 20, 3

71 et seq., 74 et s

, 94, 95, 96, 97, 99,

32, 133, 135, 136, 14

54, 156, 162, 167, 17

, 195, 197, 206, 2

d of, decree

see Agr

he sale

thy,

nction from fu

Universi

n, see C

see C

long

ntractus,

, 85, 124,

maximum rate of in

s, 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

tors deter

treated till four

ries,

lso P

, belief in

ntes pieta

Council

homas

ssed, represent

commended for

ntes pietat

es determi

cost of pro

al and modern work

, 126

public auth

thority on, before s

90, 13

of, according t

an end in

er,

of Par

, 216, 2