Category Archives: Economics

De Usuris

In order to understand usury, we need to have a clear understanding of several concepts that provide the foundation of the moral understanding of usury. Here I am not attempting a complete and comprehensive articulation of these concepts, but simply … Continue reading

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Modernist Investing

Part of the attraction of algorithmic investing is that it abstracts from the essence of the business. In this sense it is particularly Modern. The only concern is the change in stock prices or some other metric. It attempts to … Continue reading

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Just Punishment and Just Price

Justice is grounded in a certain equality, that is giving what is due according to a nature. There is an equality between the nature and what is owed it and what is given. This equality establishes justice. In retributive justice, … Continue reading

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Sovereignty and Markets

God first of all is Sovereign and this is expressed in his Power and Providence. He creates all things and governs them with an absolute supremacy. A particular act of an authority is the dispensation or delegation of authority to … Continue reading

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Private Property in Rerum Novarum

It is very interesting to read Pope Leo XIII’s defense of private property in Rerum Novarum. Rather than focusing on the classic defenses of private property (1. men are more attentive with their own possessions, 2. human affairs are more … Continue reading

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Private Property and Natural Law

Private property is not something demanded by the natural law for we do not find in things the nature of being owned by particular individuals. Rather we find that things are good for men generally rather than a particular man. … Continue reading

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Authority and Markets

*This is a tentative theory and only a beginning. Proceeding along the method of the Philosopher, let us consider first the simplest and most basic form of the polis, that is the household. In the household, the head or sovereign … Continue reading

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