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What is Aquinas and Mercantilism in Economics about?
St. Thomas Aquinas was an important medieval theologian and philosopher who understood early economic concepts like supply and demand. While he had some misunderstandings, he applied economic ideas to issues of justice in pricing, usury, and trade. Aquinas believed economics should be value-laden rather than value-free. Mercantilism was the dominant economic system in Europe from the 16th to 18th centuries. It aimed to increase state power through policies like protectionism, trade surpluses, and bullionism
- Author
- Katunga Mwiya
- Language
- EN