Posts tagged with: thomas aquinas

Prof. Harry Veryser stars in a new video from ISI that explores some of the lessons about private property, rights, responsibilities, and stewardship that can be gleaned from the thought of Thomas Aquinas.

For a much more in-depth exposition of the connections between and lessons from Aristotle, Augustine, and Aquinas, check out John Mueller’s Redeeming Economics (ISI, 2010). For more, check out a slate of review essays on Mueller’s book published in Research in the History of Economic Thought & Methodology, including a piece by me, “The Economies of Divine and Human Love.”

On Exchange and Usury, Cajetan, ThomasChristian’s Library Press has released a new translation of two treatises on exchange and usury by Thomas Cajetan (1469-1534), a Dominican theologian, philosopher, and cardinal.

Although best known for his commentaries on the Summa of Thomas Aquinas, Cajetan also wrote dozens of other works, including short treatises on socioeconomic problems.

Published under the name On Exchange and Usury, these treatises reflect on the banking industry of the early modern era in the context of the Church’s usury doctrine, examining which transactions were licit, and which involved usury, among other things. The book is part of CLP’s growing series, Sources in Early Modern Economics, Ethics, and Law.

In the introduction, Raymond de Roover summarizes some of the historical context, as well as Cajetan’s contribution therein:

Because of the Church’s usury doctrine, bankers were not supposed to charge interest and, consequently, had to look for some other way of lending money at a profit, with the result that banking became tied to exchange: local banking to manual exchange (cambium minutum), and foreign banking to real exchange or exchange by bills (cambium per litteras). Since the discounting of commercial paper was ruled out by the usury prohibition, bankers bought bills of exchange at a price that was determined by the foreign exchange rates… (more…)

Today at Acton University, Fr. Michael Butler gave an engaging lecture on the subject of Orthodoxy and natural law. Despite the contemporary ambivalence among many Orthodox (if not hostility) toward natural law, Fr. Michael argues that it is present in the Eastern Tradition from the ancient to the medieval and modern periods, focusing especially on the thought of the seventh century Byzantine Saint Maximus the Confessor.

A few months ago, I observed,

While it may be that there are important differences between a Thomist understanding of natural law and an Orthodox understanding of natural law, the historic difference is most assuredly not that Thomists accept it while the Orthodox do not.

Fr. Michael’s research further strengthens this statement and helpfully highlighted some of the similarities and differences between natural law in St. Maximus and that in Aquinas. The audio of his lecture will be available on Ancient Faith Radio in the coming weeks, but in the meantime I will briefly share some of Fr. Michael’s insights here. It’s a little heady, but worth consideration. (more…)

thomas-aquinasaugustine-of-hippoAs I noted previously, I’ve been involved this month in a panel discussion over at Cato Unbound on the issue of “Conservative-Libertarian Fusionism.”

My two most recent contributions to the discussion phase focus on possible resources for the question that can be gleaned from Augustine and Aquinas.

Augustine inaugurated a tradition of Christian reflection on the saeculum, the age of this world in which the wheat and the tares grow up together, and the implications of this for common life together. On the relevance of Augustine for modern considerations of political order, I recommend a recent lecture from Eric Gregory of Princeton University.

Aquinas in many respects, and as Gregory points out, should be read as a constructive interlocutor with Augustine rather than in opposition with him. Indeed, Augustine wrote in his Enchiridion that “although every crime is a sin, not every sin is a crime.” Likewise in his treatise on free choice, he observed, “The law which is framed for the government of states, allows and leaves unpunished many things that are punished by Divine providence.”

In this vein, Aquinas treats in systematic fashion the question, “Whether it belongs to human law to repress all vices?” As I contend over at Cato Unbound, Aquinas follows Augustine in answering negatively, and his discussion has some serious implications for how both conservatives and libertarians ought to think about the limits of the law: “Conservatives and libertarians ought to recognize that positive law is not meant to repress all vices or to promote all virtues.”

Michael J. Gerson’s encomium to Jim Wallis’ book on the common good includes this curious paragraph:

Nearly every Christian tradition of social ethics encompasses two sorts of justice. The first is procedural justice: giving people what they deserve under contracts and the law. The second is distributive justice: meeting some needs just because human beings are human beings. This is not the same thing as egalitarianism; confiscation is not compassion. But distributive justice requires a decent provision for the vulnerable and destitute. And this is not just a matter of personal charity. Social justice is more than crumbs from the table; it depends on the existence of social and economic conditions that allow people to live, work and thrive.

Gerson should be applauded for grappling with such substantive doctrines as the common good and social justice. It is certainly brave to do so within the confines of a short opinion piece.

But his treatment of these in the context of this short op-ed illustrate the difficulty of doing so in a responsible fashion. For one thing, the common good is perhaps one of the most difficult concepts to get a handle on in the history of Christian moral reflection. In the end, Gerson summarizes it as “the set of social circumstances that allows everyone to flourish.” We might quibble with this description as not quite getting at the common good as a telos rather than a process, but given that he quotes John Paul II in the previous line, this isn’t that large of a quibble.

We might also note that even though it is commonly associated with modern Roman Catholic social thought, as Gerson notes, the idea of the common good is much more of a catholic legacy of Christianity shared by a variety of Christian traditions. See, for instance, Gerson’s claim that Wallis’ invocation of the common good is “further evidence of the intellectual advance of Catholic social teaching across Christian confessions.” I think this is probably true in the case of Wallis and many evangelicals, and in this Roman Catholic social thought has done a great service in preserving this inheritance and serving as a reminder and inspiration for those who have forgotten the place of the common good in their own tradition’s moral reflection.

Blog author: jcarter
Friday, April 20, 2012

“Charity rejoices in our neighbor’s good,” said Thomas Aquinas, “while envy grieves over it.” Unfortunately, grieving over our neighbor’s good has become a dominant part of recent economic discussions (“income inequality,” the “Buffett rule,” the “99%”).

Journalist Matt Lewis recently talked to talked to Dr. Victor V. Claar about the rise of envy in economics. You can listen to the audio below.

Michael Miller, a Research Fellow and Director of Media at the Acton Institute, will be participating in an economy panel discussion held on April 17th at 7pm in the Wege Ballroom of Aquinas College in Grand Rapids, Mich. The focus of the discussion will be economic freedom and the proper role of the state and the individual in creating and preserving conditions necessary for human flourishing and prosperity.

As Lord Acton stated, “liberty is the delicate fruit of a mature civilization.” A deep analysis of liberty within the economic context, among others, can aid in creating an understanding of how liberty can best be preserved and how various actors can work towards this goal.

Miller will be joined on the panel by Dr. Molly Patterson, a Professor of Political Science at Aquinas College, Jarrett Skorup, Research Associate for Online Engagement at the Mackinac Center for Public Policy, and Dr. Daniel Giedeman, a Professor of Economics at Grand Valley State University.

The event is free and open to the public. Following the discussion, audience members will have the opportunity to ask questions of the panel.  We welcome you to come witness intellectual dialogue on this very important topic, and have the opportunity to take part in the conversation as well.