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St. Thomas Aquinas Research Paper

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The Economic Thoughts of St. Thomas Aquinas St. Thomas Aquinas was an influential Scholastic theologian that taught many interesting and powerful Christian thoughts. In Aquinas’ writings, he mentions many theoretical economic problems of his time and how to address these issues. Aquinas has many economic ideas concerning property rights, division of labor, trade, what is a just price, and usury. With his incredible influence and multitude of economic ideas, St. Thomas Aquinas is a powerful thinker to study in the history of economic thought. In his Summa Theologica, Aquinas discusses theft and robbery and must consider if they are lawful or sinful. Before he can do this though, he must consider how a man can own something, and in doing so, …show more content…

In reaching this conclusion, Aquinas gives three reasons for why private property rights are necessary: it promotes responsibility and care of the property, life is more orderly, and life is more peaceful. Each individual will be more careful with the property if is his own. If the property were common to others, each person would rely on the community to tend to the property instead of taking care of it themselves, which is how private property rights promote responsibility. A more orderly life is promoted because each thing is claimed by a specific owner, instead of many people laying claim to any one thing. Finally, Aquinas argues individual possession leads to more peace since, as Aquinas observed, “Quarrels arise more frequently where there is no division of the things possessed.” (Aquinas) Although Aquinas never uses the phrase ‘private property rights,’ he describes why this idea is useful. On property rights, Aquinas also says that “man ought to possess external …show more content…

Overall, Aquinas sees that trade is good for acquiring the goods required for the necessities of life. When trading or exchanging money for goods needed in the house or state, this type of trade or exchange is entirely permissible. He recognizes this trade can be good since it is for the mutual benefit of each person involved in the trade. However, trade for profit, that is, acquiring a good for the intention of reselling it at a higher price is wrong, and this deserves blame. This type of trade is greedy, not for mutual benefit, and there is nothing virtuous about it. However, Aquinas teaches that selling a good for more than you paid for it can be allowed only under certain exceptions: when you have improved the good, when the value of the good has changed with place or time, or when you have taken on great danger in transporting the good (Aquinas). Aquinas also adds ideas on the theory of trade in general. Trade, to Aquinas, had both positive and negative qualities. Too much trade could lead to a dependence on others; a similar phrase is repeated again and again in our culture today. Another negative view on trade was that merchants often sold goods without changing or improving the good, something Aquinas says is blameful. Trade is mostly a secular process, which could make ones soul absent from a spiritual life. Due to these reasons, trade should not be encouraged. However, Aquinas identified some positive

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