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Journal Article
Distributive Justice as a Normative Criterion in Adam Smith's Political Economy
Available to Purchase
History of Political Economy (1996) 28 (1): 1–25.
Published: 01 March 1996
... of inequality” in society.
Undoubtedly, Smith’s major emphasis is on justice in individual ex-
changes, or commutativejustice. Comprehensive adherence to the canons
of commutative justice through a system of natural liberty provides the
best guarantee of the emergence of benevolent distribution...
Journal Article
Justum Pretium: One More Round in an “Endless Series”
Available to Purchase
History of Political Economy (1977) 9 (4): 504–521.
Published: 01 November 1977
... or reciprocal justice as a principle governing social relation-
ships. Reciprocal justice does not govern the distribution of common
goods among members of a community; nor does it provide the ap-
propriate rule for dealing with “involuntary commutations’’ such as
theft or assault. However...
Journal Article
Unintended Order and Intervention: Adam Smith's Theory of the Role of the State
Available to Purchase
History of Political Economy (2005) 37 (Suppl_1): 91–119.
Published: 01 December 2005
... be-
tween justice, understood as commutative justice, and utility, understood
as the common good, and, second, the relation between commutative
justice and distributive justice, understood as equity. His general posi-
tion on both of these relationships is not difficult to discern. He states
it clearly...
Journal Article
Money Economy and Modern Civilization (paper read before the Cross-Roads Club of Stanford, May 6, 1910)
Available to Purchase
History of Political Economy (1996) 28 (3): 329–357.
Published: 01 September 1996
... has been
put into the pecuniary form. The bulk of what has been written deals with
single phases of the process, such as the growth of monetary systems,
commutation of labor services into money dues, the rise of money rev-
enue systems and public debts, the beginnings of banking, the invention...
Journal Article
Economics and Ethics: Juan de Lugo's Theory of the Just Price, or the Responsibility of Living in Society
Available to Purchase
History of Political Economy (2010) 42 (3): 495–519.
Published: 01 September 2010
...
Justice is one of the four cardinal virtues and is defined as “the constant
and perpetual will of rendering to each his due” (Lugo [1642] 1868, 1, 1).
The Scholastic doctors, following Aquinas, divided particular justice into
two categories: distributive and commutative.7 The first “distributes...
Journal Article
Economics as a Moral Science: The Political Economy of Adam Smith
Available to Purchase
History of Political Economy (1999) 31 (4): 775–776.
Published: 01 November 1999
... natural lawyers” (96).
Given the benevolent model, the market process leads to a “just price,” so the
invisible hand results in distributive justice. Commutative and distributive justice
are generally complementary, but where conflicts occur Smith favors distributive
justice if the issue...
Journal Article
Smith and a Living Wage: Competition, Economic Compulsion, and the Scholastic Legacy
Available to Purchase
History of Political Economy (2006) 38 (1): 151–174.
Published: 01 March 2006
... understanding of the rela-
tionship between commutative and distributive justice, concepts inher-
3. Certainly the concept of the living wage was made popular before Ryanʼs time by means
of the eight-hour workday movement in the 1880s. The living-wage ideal was turned into a
call for a minimum wage...
Journal Article
History of Political Economy (2025) 57 (2): 233–277.
Published: 01 April 2025
...” (Psalms 11:7). Aquinas thus lays down the general principle that God is just. In this case, since it is related to a sale, justice is relative to what Aquinas calls “particular justice,” which consists in commutative and distributive justice. Commutative justice consists in “giving and receiving in return...
FIGURES
Journal Article
An Introduction to “Money Economy and Modern Civilization” by Wesley C. Mitchell
Available to Purchase
History of Political Economy (1996) 28 (3): 317–328.
Published: 01 September 1996
... introduction of money transactions via
the commutation of dues in kind and labor dues, and with the rise of estate
management for revenue instead of for subsistence. These developments
occurred first on royal manors due to the Crown’s need for money to fi-
Rutherford / Money Economy and Modem...
Journal Article
The Neglected Agent: Justice, Power, and Distribution in Adam Smith
Available to Purchase
History of Political Economy (2006) 38 (3): 437–471.
Published: 01 September 2006
... is listed as
injustice in the commutative sense of justice (Winch 1978, 98–99).11
9. This is consistent with Rothschildʼs (1992a) intriguing fi ndings that Smithʼs arguments
had been used by supporters of the Poor Laws in the 1790 debate but were then expropriated
by the opponents of those laws...
Journal Article
Buridan on Value and Economic Measurement
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History of Political Economy (2006) 38 (2): 269–289.
Published: 01 June 2006
... by a proportion. Like all medieval Aristotelians, Buridan only dis-
tinguished between distributive justice, expressed by a geometric propor-
tion, and commutative justice, expressed by an arithmetic proportion.29 An
example of the former kind of justice, drawn from the economic sphere,
is the distribution...
Journal Article
Exciting the Industry of Mankind: George Berkeley's Philosophy of Money
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History of Political Economy (2002) 34 (4): 818–819.
Published: 01 November 2002
... economic concerns. If this were so, why not go for
commutation of tithes (145)?
Sometimes the attempt to introduce philosophy goes too far and ends by ob-
fuscating the economics. In relation to Berkeley’s views on money as a “ticket” or
“counter,” Caffentzis provides an elaborate link...
Journal Article
Exchange-Value Determination: Scholastic Just Price , Economic Theory, and Modern Catholic Social Thought
Available to Purchase
History of Political Economy (1997) 29 (1): 83–116.
Published: 01 March 1997
..., and role among the
members of society were acknowledged and reflected in the requirements
of both distributive and commutative justice (Spengler 1968, 224-27).
These differences defined the critical proportionality that governed rela-
tions of justice.
The primary end of the social status...
Journal Article
Early Mathematical Economics: William Whewell and the British Case
Available to Purchase
History of Political Economy (1999) 31 (4): 777–779.
Published: 01 November 1999
...?-1824) of Gonville and Caius, Cambridge (second wran-
gler 1814, also a medical student and Inner Temple barrister), attempted, in an 1822
pamphlet (praised by Whewell) on the economic effects of taxes on raw produce
and of the commutation of tithes, a mathematical expression of the determination...
Journal Article
The Impartial Spectator and Natural Jurisprudence: An Interpretation of Adam Smith's Theory of the Natural Price
Available to Purchase
History of Political Economy (1986) 18 (3): 365–382.
Published: 01 September 1986
... it is so because labor
is the circumstance which the parties and the spectator will ultimately
agree is the basis for a fair exchange-fair in the negative sense of estab-
lishing commutative justice; i.e., no party has been injured in the ex-
change. Smith grounds exchange value on a spectator...
Journal Article
Justice and Price: Reply to John Salter
Available to Purchase
History of Political Economy (1997) 29 (4): 685–689.
Published: 01 November 1997
... of justice and
property. It is a just price in his sense of justice as commutative justice,
and his concept of cost bears a close resemblance to the concept of injury.
Consequently, I feel it is a defensible position to assert that the theory of
the natural price is wholly compatible with Smith’s...
Journal Article
Price and Value Theory in the Aristotelian Tradition
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History of Political Economy (1980) 12 (4): 638–642.
Published: 01 November 1980
... of argument and textual evidence,
Langholm strongly reaffirms: “In economic exchange regulated according to
commutative justice, there is never a question of personal difference per se;
any difference relevant to the terms of exchange must rest in the products. This
principle was accepted by all...
Journal Article
Welfare, Justice and Freedom
Available to Purchase
History of Political Economy (1982) 14 (1): 141–145.
Published: 01 March 1982
...
not invoked. Had Gordon invoked it, he might have avoided the rather dubious
conclusion (p. 89) that the classic distinction between commutative and distrib-
utive justice corresponds to the distinction between procedural and end-state
conceptions of justice. Democratic political philosophy, Gordon...
Journal Article
Chapter Two: The Economic Doctrines of the Scholastics
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History of Political Economy (1978) 10 (1): 46–113.
Published: 01 March 1978
..., but in the main they confined their discussion of
these implications to repeated emphasis on the priority of the com-
mon good over the individual and to scattered and occasional insights
on almsgiving and questions of commutative justice arising from
transactions between individuals...
Journal Article
The Economic Thought of Abu Hamid Al-Ghazali and St. Thomas Aquinas: Some Comparative Parallels and Links
Available to Purchase
History of Political Economy (2000) 32 (4): 857–888.
Published: 01 November 2000
..., involving Scholastics of each of the three monothe-
874 History of Political Economy 32:4 (2000)
istic faiths—Judaism, Christianity, and Islam.16 The condemnation of
usury, which is traceable to the Greeks, was the logical outcome of a
combination of the principle of commutative justice...
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