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Conservative Institute organized another of the CEQLS Lectures: Alejandro A. Chafuen, President of The Atlas Economic Research Foundation (USA), was our guest on September 18, 2012 in Ivanka pri Dunaji. More information is available at www.institute.sk.
The document describes how the author applied video effects to create a brighter and softer look, including copying the video layer, using a screen blending mode, and adding a soft focus effect. It also analyzes scenes between characters Kayla and Julian, suggesting they like each other, with Kayla portrayed as humble and sometimes shy and Julian as more brave and confident. A YouTube link is provided for feedback on footage and questions.
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The document describes how the author applied video effects to create a brighter and softer look, including copying the video layer, using a screen blending mode, and adding a soft focus effect. It also analyzes scenes between characters Kayla and Julian, suggesting they like each other, with Kayla portrayed as humble and sometimes shy and Julian as more brave and confident. A YouTube link is provided for feedback on footage and questions.
Energie-portal.sk a Konzervatívny inštitút M. R. Štefánika organizovali dňa 21. októbra 2013 v Pálffyho paláci v Bratislave diskusiu na tému Solárna daň. Videozáznam nájdete na www.konzervativizmus.sk
The document analyzes Slovakia's utilization of EU funds (eurofunds) between 2007-2013. It finds that eurofunds have been accompanied by jurisdictional fights and nontransparent allocation that enable corruption and clientelism. Examples of misused funds include overpriced contracts and subsidies for dubious social enterprises linked to political parties. The eurofunds also failed to achieve their goal of reducing regional disparities in unemployment. To curb corruption, the authors recommend more transparent procedures for approving fund applications and eliminating unnecessary bureaucracy.
This document provides biographical information about three influential economists: Adam Smith, Karl Marx, and John Maynard Keynes. It summarizes their key ideas and contributions to economic thought. Adam Smith developed the concept of the invisible hand and argued that free markets and division of labor could increase prosperity. Karl Marx critiqued capitalism and predicted its inevitable replacement by socialism and communism. John Maynard Keynes argued that government intervention was needed to stimulate economies during downturns like the Great Depression. All three thinkers significantly shaped modern economic theory and policy.
Thomas Aquinas, Duns Scotus, Jean Buridan, Ibn Khaldun, Nicole Oresme, and Antonin of Florence were medieval economists who made important contributions between the 13th-15th centuries. Their works discussed concepts including just price, usury, supply and demand, taxes, money, and theories of value. For example, Aquinas believed high prices due to demand were a form of theft, while Ibn Khaldun formulated early theories of the lifecycle of civilizations and value of money as a means of exchange. These economists helped establish foundations for modern economic thought.
This document provides an overview of the history and development of economic thought. It discusses early Greek philosophers like Plato and Aristotle who contemplated ideal societies and the role of different classes. It then covers economic ideas discussed by Catholic scholars like Aquinas on just pricing and interest. It outlines the rise of mercantilism as a system of trade regulation by European states. The document next introduces Adam Smith as the founder of modern economics, influenced by David Hume's support for free trade and French physiocrats who believed wealth originated from agriculture.
The document provides an overview of medieval economic thought from the 5th to 15th centuries in Europe. Key aspects discussed include:
- Society was organized in a feudal system with people enjoying status according to rank.
- Christianity had a major influence, teaching universal brotherhood and challenging the institution of slavery.
- Figures like St. Thomas Aquinas emphasized concepts like just price, private property for common good, and permissible interest under certain conditions based on Aristotle and the Bible.
Konzervatívny inštitút M. R. Štefánika s podporou Nadácie Tatra banky organizoval dňa 7. apríla 2014 v Bratislave ďalšiu prednášku v rámci cyklu prednášok CEQLS. Našim hosťom bol Michael C. Munger, profesor ekonómie a politológie pôsobiaci na Duke University (USA). Viac informácií nájdete na www.konzervativizmus.sk. More information at www.institute.sk
Classical and Neoclassical Economics developed out of the Enlightenment period in Europe. Classical economists like Adam Smith, David Ricardo, and Thomas Malthus analyzed economies based on theories like the labor theory of value, comparative advantage, and populations growth. They viewed economies as self-regulating systems driven by individuals pursuing self-interest. Neoclassical economics built on these foundations with assumptions of rational behavior, market equilibrium from supply and demand, and utility maximization. Both approaches remain influential but face criticisms like oversimplifying human behavior and the real-world complexity of economies.
This document provides an overview of several influential early economists from the pre-classical era, including:
- Richard Cantillon, considered the father of enterprise economics and author of one of the first treatises on economic theory. His work isolated economic phenomena and influenced later economists.
- John Locke, who developed the labor theory of property and argued that property rights derive from labor.
- François Quesnay and the Physiocrats, who believed that agricultural production was the sole source of wealth and advocated for reducing taxes on farmers. Quesnay's "Economic Table" was influential.
- Jacques Turgot, a French economist who recognized the law of diminishing marginal returns and advocated for economic liberal
Chapter 10 The reshaping of medieval europetcshistory
The document summarizes changes that occurred in medieval Europe during the late medieval period. Commerce and trade led to the growth of towns and cities, which weakened the feudal system and manorialism. A middle class formed out of merchants and businessmen. Kings were able to consolidate power by raising large armies, allowing them to assert power over popes and feudal nobility.
This document provides an overview of topics covered in a lecture on mainstream economics, including:
- The concept of rational economic man and how it forms the basis of mainstream economic theories.
- Key assumptions in mainstream economics around self-interest, utility, and marginal utility.
- The concept of Pareto optimality and how it relates to efficiency.
- It also discusses Islamic economic thinkers during the alleged "Great Gap" in economic thought between ancient Greece and the European Enlightenment, including their contributions to ideas around markets, ethics, and regulation. Specifically, it outlines the works and ideas of Ghazali, Dimishqi, Ibn Taimiyah, Kay Kavus, and Ibn Tuf
The document discusses worker's movements from medieval guilds to modern trade unions. It then covers the transition from traditional economies to capitalism through events like enclosures and the industrial revolution. This led to the rise of the working class and contradictions within the capitalist system like crises of overproduction. The document analyzes how imperialism, colonialism and slavery were integral to the development of capitalism on a global scale.
The passage discusses different types of psychotherapy and biomedical therapies used to treat psychological disorders. Psychotherapy is based on the assumption that psychological factors play a role in disorders, while biomedical therapies focus on biological factors. Specific therapies mentioned include psychoanalysis, short-term dynamic therapies, client-centered therapy, behavior therapy techniques like systematic desensitization and token economies, and cognitive therapies like rational emotive therapy and cognitive behavioral therapy.
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1) Medieval Europe was characterized by a high degree of legal pluralism, with multiple coexisting legal systems including local customs, feudal law, canon law, merchant law, and revived Roman law. This created uncertainty around which laws applied in different situations.
2) During the early modern period, European states consolidated power and centralized legal authority to establish themselves as the primary lawmakers. This reduced legal pluralism within their territories over time.
3) Contemporary legal pluralism combines the legacy of this past with more recent developments from globalization, resulting in diversity between legal authorities at different levels from local
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- Political campaign contributions from businesses and wealthy individuals in exchange for political favors is not a new practice, but has a long history in the United States.
- For over a century, large donations from companies and special interests have been used to influence politicians' decisions and policy positions once they are elected.
- However, reforms in the early 20th century placed limits on corporate donations and required disclosure of contributions to increase transparency, though the system is still viewed as favoring wealthy donors.
The document discusses key ideas and thinkers of the Age of Enlightenment in the 18th century. Philosophes such as Voltaire, Rousseau, and Montesquieu applied reason and scientific thinking to critique society and propose new forms of government. They advocated for natural rights, limited government, separation of powers, and democracy. As a result of Enlightenment thought, people began questioning authority and the stage was set for revolution.
William Petty, Richard Cantillon, David Hume, and James Steuart were early contributors to classical political economy in the 17th-18th centuries. Petty developed concepts like surplus, fiscal pressure, and distinguishing actual and natural prices. Cantillon developed a circular flow model and theories on money, demand/supply, profit, and population growth. Hume emphasized empiricism and free trade. Steuart published the first book with "political economy" in the title, representing a more systematic view of moderate mercantilism.
Answer ALL of the following questions1.Part One Renaissance Id.docxnolanalgernon
The document discusses three passages related to women in Renaissance and Reformation Europe. The first passage, by John Knox in 1569, argues strongly against women having political power, claiming they are inherently inferior to men. The second passage, from 1542, takes the opposing view and argues that men and women have equal intellectual abilities and women should have the same rights and roles as men. The third question asks how these passages illustrate the status of women during this period, noting tensions between traditional views of women's subordinate role and emerging arguments for greater equality and rights.
Dbq Essay Thesis. Online assignment writing service.Lisa Taylor
The document provides steps for requesting writing assistance from HelpWriting.net:
1. Create an account with a password and email.
2. Complete a 10-minute order form providing instructions, sources, and deadline. Attach a sample if wanting the writer to imitate your style.
3. Review bids from writers and choose one based on qualifications, history, and feedback. Place a deposit to start the assignment.
4. Review the completed paper and authorize full payment if pleased, or request revisions using the free revision policy.
This document provides biographical information about three influential economists: Adam Smith, Karl Marx, and John Maynard Keynes. It summarizes their key ideas and contributions to economic thought. Adam Smith developed the concept of the invisible hand and argued that free markets and division of labor could increase prosperity. Karl Marx critiqued capitalism and predicted its inevitable replacement by socialism and communism. John Maynard Keynes argued that government intervention was needed to stimulate economies during downturns like the Great Depression. All three thinkers significantly shaped modern economic theory and policy.
Thomas Aquinas, Duns Scotus, Jean Buridan, Ibn Khaldun, Nicole Oresme, and Antonin of Florence were medieval economists who made important contributions between the 13th-15th centuries. Their works discussed concepts including just price, usury, supply and demand, taxes, money, and theories of value. For example, Aquinas believed high prices due to demand were a form of theft, while Ibn Khaldun formulated early theories of the lifecycle of civilizations and value of money as a means of exchange. These economists helped establish foundations for modern economic thought.
This document provides an overview of the history and development of economic thought. It discusses early Greek philosophers like Plato and Aristotle who contemplated ideal societies and the role of different classes. It then covers economic ideas discussed by Catholic scholars like Aquinas on just pricing and interest. It outlines the rise of mercantilism as a system of trade regulation by European states. The document next introduces Adam Smith as the founder of modern economics, influenced by David Hume's support for free trade and French physiocrats who believed wealth originated from agriculture.
The document provides an overview of medieval economic thought from the 5th to 15th centuries in Europe. Key aspects discussed include:
- Society was organized in a feudal system with people enjoying status according to rank.
- Christianity had a major influence, teaching universal brotherhood and challenging the institution of slavery.
- Figures like St. Thomas Aquinas emphasized concepts like just price, private property for common good, and permissible interest under certain conditions based on Aristotle and the Bible.
Konzervatívny inštitút M. R. Štefánika s podporou Nadácie Tatra banky organizoval dňa 7. apríla 2014 v Bratislave ďalšiu prednášku v rámci cyklu prednášok CEQLS. Našim hosťom bol Michael C. Munger, profesor ekonómie a politológie pôsobiaci na Duke University (USA). Viac informácií nájdete na www.konzervativizmus.sk. More information at www.institute.sk
Classical and Neoclassical Economics developed out of the Enlightenment period in Europe. Classical economists like Adam Smith, David Ricardo, and Thomas Malthus analyzed economies based on theories like the labor theory of value, comparative advantage, and populations growth. They viewed economies as self-regulating systems driven by individuals pursuing self-interest. Neoclassical economics built on these foundations with assumptions of rational behavior, market equilibrium from supply and demand, and utility maximization. Both approaches remain influential but face criticisms like oversimplifying human behavior and the real-world complexity of economies.
This document provides an overview of several influential early economists from the pre-classical era, including:
- Richard Cantillon, considered the father of enterprise economics and author of one of the first treatises on economic theory. His work isolated economic phenomena and influenced later economists.
- John Locke, who developed the labor theory of property and argued that property rights derive from labor.
- François Quesnay and the Physiocrats, who believed that agricultural production was the sole source of wealth and advocated for reducing taxes on farmers. Quesnay's "Economic Table" was influential.
- Jacques Turgot, a French economist who recognized the law of diminishing marginal returns and advocated for economic liberal
Chapter 10 The reshaping of medieval europetcshistory
The document summarizes changes that occurred in medieval Europe during the late medieval period. Commerce and trade led to the growth of towns and cities, which weakened the feudal system and manorialism. A middle class formed out of merchants and businessmen. Kings were able to consolidate power by raising large armies, allowing them to assert power over popes and feudal nobility.
This document provides an overview of topics covered in a lecture on mainstream economics, including:
- The concept of rational economic man and how it forms the basis of mainstream economic theories.
- Key assumptions in mainstream economics around self-interest, utility, and marginal utility.
- The concept of Pareto optimality and how it relates to efficiency.
- It also discusses Islamic economic thinkers during the alleged "Great Gap" in economic thought between ancient Greece and the European Enlightenment, including their contributions to ideas around markets, ethics, and regulation. Specifically, it outlines the works and ideas of Ghazali, Dimishqi, Ibn Taimiyah, Kay Kavus, and Ibn Tuf
The document discusses worker's movements from medieval guilds to modern trade unions. It then covers the transition from traditional economies to capitalism through events like enclosures and the industrial revolution. This led to the rise of the working class and contradictions within the capitalist system like crises of overproduction. The document analyzes how imperialism, colonialism and slavery were integral to the development of capitalism on a global scale.
The passage discusses different types of psychotherapy and biomedical therapies used to treat psychological disorders. Psychotherapy is based on the assumption that psychological factors play a role in disorders, while biomedical therapies focus on biological factors. Specific therapies mentioned include psychoanalysis, short-term dynamic therapies, client-centered therapy, behavior therapy techniques like systematic desensitization and token economies, and cognitive therapies like rational emotive therapy and cognitive behavioral therapy.
Group presentation on The Wealth of Nations by Adam Smith.pptxSumaiaRuhane
An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith
presentation to certification program in islamic finance a joint cooperation between University of Mohammed V Morocco and Tazkia Institute of Islamic Economics
This document discusses the history of legal pluralism from medieval times to the present. It makes three key points:
1) Medieval Europe was characterized by a high degree of legal pluralism, with multiple coexisting legal systems including local customs, feudal law, canon law, merchant law, and revived Roman law. This created uncertainty around which laws applied in different situations.
2) During the early modern period, European states consolidated power and centralized legal authority to establish themselves as the primary lawmakers. This reduced legal pluralism within their territories over time.
3) Contemporary legal pluralism combines the legacy of this past with more recent developments from globalization, resulting in diversity between legal authorities at different levels from local
(1) The document traces the history of public finance theory from ancient societies through modern times. Early thinkers like the Greeks saw two primary roles for government in providing public services and raising armies. (2) Major developments included the Physiocrats advocating a single tax on surplus agricultural production and Adam Smith establishing principles of taxation. (3) Modern public finance theory expanded after World War II, with Keynes arguing for government spending to maintain full employment and new areas of study like optimal fiscal policy design.
- Political campaign contributions from businesses and wealthy individuals in exchange for political favors is not a new practice, but has a long history in the United States.
- For over a century, large donations from companies and special interests have been used to influence politicians' decisions and policy positions once they are elected.
- However, reforms in the early 20th century placed limits on corporate donations and required disclosure of contributions to increase transparency, though the system is still viewed as favoring wealthy donors.
The document discusses key ideas and thinkers of the Age of Enlightenment in the 18th century. Philosophes such as Voltaire, Rousseau, and Montesquieu applied reason and scientific thinking to critique society and propose new forms of government. They advocated for natural rights, limited government, separation of powers, and democracy. As a result of Enlightenment thought, people began questioning authority and the stage was set for revolution.
William Petty, Richard Cantillon, David Hume, and James Steuart were early contributors to classical political economy in the 17th-18th centuries. Petty developed concepts like surplus, fiscal pressure, and distinguishing actual and natural prices. Cantillon developed a circular flow model and theories on money, demand/supply, profit, and population growth. Hume emphasized empiricism and free trade. Steuart published the first book with "political economy" in the title, representing a more systematic view of moderate mercantilism.
Answer ALL of the following questions1.Part One Renaissance Id.docxnolanalgernon
The document discusses three passages related to women in Renaissance and Reformation Europe. The first passage, by John Knox in 1569, argues strongly against women having political power, claiming they are inherently inferior to men. The second passage, from 1542, takes the opposing view and argues that men and women have equal intellectual abilities and women should have the same rights and roles as men. The third question asks how these passages illustrate the status of women during this period, noting tensions between traditional views of women's subordinate role and emerging arguments for greater equality and rights.
Dbq Essay Thesis. Online assignment writing service.Lisa Taylor
The document provides steps for requesting writing assistance from HelpWriting.net:
1. Create an account with a password and email.
2. Complete a 10-minute order form providing instructions, sources, and deadline. Attach a sample if wanting the writer to imitate your style.
3. Review bids from writers and choose one based on qualifications, history, and feedback. Place a deposit to start the assignment.
4. Review the completed paper and authorize full payment if pleased, or request revisions using the free revision policy.
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Special CEQLS Lecture: Alejandro A. Chafuen: Christian Roots of the Free Society
1. Christian Roots of the Free
Economy
Dr. Alejandro Chafuen
Acton Institute, www.acton.org
www.chafuen.com
Kolegium Antona Neuwirtha
Slovakia
September 18, 2012
4. Domingo de Guzmán, founder of the
Dominican Order
Domingo de Guzmán (1170-1221)
5. The Church of the thirteenth century shows a marked
development, on its institutional side, of the principle and
practice of representation.
The great Orders of the Friars are penetrated by
representation. It appears first in the Dominicans: it is
copied from them by the Franciscans. In the same century
representation begins to appear in the State. In
Spain, indeed, it has already appeared in the last half of
the twelfth century: in France it does not properly
appear, except in local assemblies, until the beginning of
the fourteenth.” (Barker, p. 7)
6. Benedictines, Franciscans, and other
religious orders adopted representative
government
The Jesuits, the Ratio Studiorum (1581-
1599)
8. Commercial activities useful for
society:
•For the conservation and storing
of goods
•For the importation of useful
goods that are necessary for the
republic
•For the transportation of goods
from places where they are
abundant to places where they
are scarce
9. The importance of Private Property
Consistent with Scripture
Inspired by Aristotle
Further developed by other authors became
the most essential institution of a free
society
10. Aquinas in his Summa, II-II, Q. 66, art.
2, "Augustine says: The people styled apostolic
are those who arrogantly claimed this title for
themselves because they refused to admit married
folk or property owners to their fellowship, arguing
from the model of the many monks and clerics in
the Catholic Church ( De Haeresibus 40). But such
people are heretics because they cut themselves
off from the Church by alleging that those
who, unlike themselves, marry and own property
have no hope for salvation."
11. "First, because each person takes more
trouble to care for something that is his sole
responsibility than what is held in common or
by many for in such a case each individual
shirks the work and leaves the responsibility to
somebody else, which is what happens when
too many officials are involved.
Second, because human affairs are more
efficiently organized if each person has his
own responsibility to discharge; there would be
chaos if everybody cared for everything.
Third, because men live together in greater
peace where everyone is content with his
things. We do, in fact, notice that quarrels often
break out amongst men who hold things in
common without distinction."
12.
13.
14.
15.
16. Aquinas quoting Augustine on Value
As Augustine says (De Civ. Dei xi, 16) the price of
things salable does not depend on their degree of
nature, since at times a horse fetches a higher
price than a slave; but it depends on their
usefulness to man. Hence it is not necessary for
the seller or buyer to be cognizant of the hidden
qualities of the thing sold, but only of such as
render the thing adapted to man's use, for
instance, that the horse be strong, run well and so
forth. Such qualities the seller and buyer can
easily discover.
17. Just Price
Aquinas notion of just price was influenced
by a theory of value that states that the
value we place on goods depends on the
utility we derive from them. Since our needs
and desires are subjective, utility is
subjective as well. In their discourses on
value, St. Albert the Great, and later St.
Thomas, included the element of "common
estimation"
18. Just price not based on objective value
“The relevant part of the argument on just price—
the price that assures the „equivalence‟ of
commutative justice—is strictly Aristotelian . . .St.
Thomas was a s far as was Aristotle from
postulating the existence of a metaphysical or
immutable „objective value.” (Schumpeter)
St. Thomas Aquinas' words, "any exchange is for
the mutual benefit of both parties with the result
that they are better off than previously.“ [II-II, q. 77]
19. “the just price of things is not fixed with
mathematical precision, but depends on a
kind of estimate, so that a slight addition or
subtraction would not seem to destroy the
equality of justice.” Qu. 77, art 2, resp. obj 2
20. Other economic questions
addressed by Aquinas
Profits from trade
Money as a medium of exchange
Interest rates
Distributive Justice
21. Aquinas on Distributive Justice
St. Thomas noted that
in distributive justice something is given to a private individual, in so far
as what belongs to the whole is due to the part, and in a quantity that is
proportionate to the importance of the position of that part in respect of
the whole. Consequently, in distributive justice a person receives all
the more of the common goods, according as he holds a more
prominent position in the community. This prominence in an
aristocratic community is gauged according to virtue, in an oligarchy
according to wealth, in a democracy according to liberty, and in various
ways according to various forms of government.
The tradition of treating wages as a matter of commutative justice
similar to the exchange of other economic goods can be traced to St.
Thomas Aquinas, who stated that wages are the natural remuneration
for labor "almost as if it were the price of the same" (Quasi quoddam
pretium ipsius).
22. Aquinas justification of profits
1. To provide for the businessman's household.
2. To help the poor.
3. To ensure that the country does not run short of
essential supplies.
4. To compensate the businessman's work.
5. To improve the merchandise.
He also ascribed legitimacy to profits obtained
from price variations in response to local changes
as well as those earned through the lapse of time.
Furthermore, he allowed for profits that would
compensate the risks of transport and delivery.
35. Profits
Criticized Duns Scotus O.F.M.
(1265-1308) who argued that
businessmen were so useful that the
good prince should see that they earn a
just profit
Profits, if they result from market prices,
should not be limited.
Losses should be born by the
businessman
36. St Bernardine contribution to the virtues of
managers and entrepreneurs
•Industria (diligence, efficiency)
•Solicitudo (Responsibility)
•Labores (labor)
•Pericula (willingness to assume risks)
•“The rational and orderly conduct of business was
a virtue.”
37. Wages
•Wages should be determined as any other prices:
common estimation, supply and demand, with no fraud
or coercion
•Should be paid in cash unless stated otherwise by
contract
•Should not be paid in debased currency (usually
clipped or lower content silver coins)
•Not sympathetic of labor unions
•Strong condemnation of cabbaging/pilfering
•No consideration of family wage
38. Distributive Justice:
Maintenance and distribution of goods held in
common (taxes, government appointments,
provision of justice)
Did not deal with distribution of income (wages,
profits, rent), major mistake by Raymond De
Roover, author of the best analysis of these
authors San Bernardino of Siena and San‟t
Anotnino of Florence, Harvard, 1967
41. Salamanca
The University of Salamanca had a strong influence in
most of Europe, including in the English speaking nations.
The English hierarchy sponsored a college for the training
of priests, the Minor College of St. Thomas of
Canterbury, based at the University of Salamanca in 1510.
The Irish, in 1592, established the Colegio de Nobles
Irlandeses or the “Royal College of Irish Nobles.” It
became the training ground of many notable Irish clergy
and hierarchy. Although administered by Spanish
Jesuits, it always had an Irish Jesuit as vice rector. By
1584, Salamanca had between 6 and 7 thousand
students. Its influence was immense.
47. The Roman College
The Roman College, founded in 1551 was
especially influenced by Salamanca. It was
originally labeled “a free school of
grammar, humanities and Christian
doctrine,” “free” meant gratis, the original
Latin word used in its description. The
college had several Spanish born luminaries
among its greatest professors.
48. Salamanca influenced the teachings
at the first Jesuit Universities
Messina, Palermo, Naples, Gandia, Salama
nca, Alcalà, Valladolid, Lisbon, Billom, Vienn
a;
Cologne, Munich, Prague, Innsbruck, Douai,
Bruges, Antwerp, Liège.
By 1706 they had 750 colleges and
Universities
96 in Latin America before their suppression
49. Increased recognition of the School
of Salamanca
F. A. Hayek, the Nobel laureate, frequently
recognized their scholarly work.
Lord Acton wrote that the greater part of the liberal
ideas of Milton, Locke, and Rousseau, may be
found in the works of the Salamanca Jesuits.
Raymond De Roover, Marjorie Grice-
Hutchinson, Murray Rothbard, and Joseph
Schumpeter, recognized the major contributions of
the “School of Salamanca,” not only the Jesuits, to
economics.
50. Eternal or Divine Law
(God’s plan to lead all creation to its end)
Natural Law
(Intelligent creatures’ participation in eternal law or what reason tells
them about the nature of things)
Economics Ethics
Influence
Political Economy Economic Doctrine Economic Ethics
51. Relevant contributions to the free
economy
their focus on the human person as an individual
being distinguished by its freedom, its social
inclination and spiritual component
their emphasis on the importance of private
property for a more peaceful, productive and
ethical social order
their conclusions about the importance of the right
to trade, both nationally and internationally
52. Relevant contributions to the free
economy
the relevance of sound money, both for the need to
preserve the private property of cash holders as well as the
stability of its value so it would aid rather than hinder trade
their analyses equating the just price with market prices
devoid of fraud, monopoly or coercion
their treatment of wages, profits and rents as belonging to
commutative justice (contracts) rather than distributive
justice (which only dealt with justice in the provision and
distribution of goods held in common by a
family, organization or political body)
and finally, their careful distinction between legal and moral
obligations and punishments.
53. Rights: the consequence of God‟s law, not God‟s
grace
Vitoria described four different aspects of law:
eternal, natural, positive, and “international” or Ius
Gentium. Vitoria developed even further some
views hinted in the writings of St. Thomas Aquinas
and stressed that the authority to exercise power
comes from the community, usually through the
operations of its legislative power. Vitoria‟s views
on the origin of rights led to the conclusion that sin
did not diminish one‟s right to private property.
54. Father Teófilo Urdanoz “no one has
realized, at least up to now, that Vitoria‟s
vision of the right to free communication and
unrestricted foreign relations represent an
explicit advance of the principles of
economic neoliberalism and worldwide free
market.”
55. Christian contributions to
globalization
Its stress on the universality of moral laws
Its evangelizing spirit “Christ taught the
apostles and us to go out into the whole
world and preach the Gospel “
The teaching and actions of
hierarchy, clergy and members
56. Vitoria‟s principles
“Native princes cannot prevent their subjects from
trading with the Spaniards.”
“Eternal, natural, and positive human law (ius
gentium) favors international trade. To abjure it
would violate the golden rule.”
Barriers against trade can be “iniquitous and
against charity.” Quoted Ovid “Man is not a wolf
for other men.”
“Nature has established a certain bond between
men.”
62. Samuel Pufendorf
(1632-1694)
Criticized Vitoria Liberal views:
“Franciscus a Victoria is certainly
false when he maintains: “the law
on nations allows every man to
carry on trade in the provinces of
others by importing merchandise
which they lack and exporting
gold and silver, as well as other
merchandise, in which they
abound.”
70. Domingo de Soto
Repeats St. Augustine‟s point: trade “is like
eating, a morally indifferent act, which can be
good or bad depending the ends and the
circumstances”
“Commerce is necessary for the republic. Not all
the provinces have the goods they need in
abundance. On the contrary, due to climates
some have in abundance the fruits and labors
which are scarce in others and vice versa.”
74. Bellarmine wrote some of the most influential
works. Rev. John C. Rager addressed
Bellarmine‟s political philosophy on an essay
entitled “Catholic Sources and the Declaration of
Independence.” (Rager, 1930) His piece
compared essential sentences from the
Declaration of Independence with similar quotes
from St. Thomas Aquinas and then Blessed
Robert Bellarmine. The parallels are striking.