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    Aristotle

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    This document provides an overview of ancient Greek economic thought from the 8th century BC to the 3rd century BC. It discusses the early economic views of Plato and Aristotle. Plato viewed society as consisting of exchanges between classes, while Aristotle viewed it as an exchange network between households. Aristotle developed theories of distributive justice, commutative justice, just price, money, and friendship. He analyzed different types of social and economic exchanges and believed justice was foundational to social interactions. The document outlines Aristotle's enduring influence on economic reasoning through the Aristotelian tradition up until the 17th century.

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    Aristotle

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    violetgodsent9
    1 views14 pages
    This document provides an overview of ancient Greek economic thought from the 8th century BC to the 3rd century BC. It discusses the early economic views of Plato and Aristotle. Plato viewed society as consisting of exchanges between classes, while Aristotle viewed it as an exchange network between households. Aristotle developed theories of distributive justice, commutative justice, just price, money, and friendship. He analyzed different types of social and economic exchanges and believed justice was foundational to social interactions. The document outlines Aristotle's enduring influence on economic reasoning through the Aristotelian tradition up until the 17th century.

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    This document provides an overview of ancient Greek economic thought from the 8th century BC to the 3rd century BC. It discusses the early economic views of Plato and Aristotle. Plato viewed society as consisting of exchanges between classes, while Aristotle viewed it as an exchange network between households. Aristotle developed theories of distributive justice, commutative justice, just price, money, and friendship. He analyzed different types of social and economic exchanges and believed justice was foundational to social interactions. The document outlines Aristotle's enduring influence on economic reasoning through the Aristotelian tradition up until the 17th century.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    1 views14 pages

    Aristotle

    Uploaded by

    violetgodsent9
    This document provides an overview of ancient Greek economic thought from the 8th century BC to the 3rd century BC. It discusses the early economic views of Plato and Aristotle. Plato viewed society as consisting of exchanges between classes, while Aristotle viewed it as an exchange network between households. Aristotle developed theories of distributive justice, commutative justice, just price, money, and friendship. He analyzed different types of social and economic exchanges and believed justice was foundational to social interactions. The document outlines Aristotle's enduring influence on economic reasoning through the Aristotelian tradition up until the 17th century.

    Copyright:

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    of 14

    History of Economic Thought

    Denis Melnik
    dmelnik@hse.ru
    Forms of economic reasoning

    • Economic views
    • Economic thought
    • Economic theory (analysis)
    Ancient Greece
    VIII BC – III BC
    Plato (c. 427 – c. 327)

    ‘Macromodel’ of society:
    exchange between classes
     Philosophers (rulers)
     Warriors
     Common people
    The notion of justice
    Aristotle (384 - 322)

    ‘Micromodel’ of
    society: exchange
    between households
    Society as an exchange
    network
    Justice as the
    foundation for social
    interactions
    Aristotle’s ethics (practical
    knowledge how to live)

    •Target: happiness
    •The way to achieve the target: reason
    •Guidelines: moral virtues
    •The institution: polis
    Justice

    General justice
    Particular justice – practical
    applications:
    o Distributive
    justice
    o Commutative justice
    Distributive justice

     Relations between an individual and the


    polis: ‘lifelong contract’
     Equivalence in mutual exchange based on
    geometrical proportion
     ‘Non-economic’ distribution: meritocratic
    society
    Commutative justice

     Relations between individuals: daily


    transactions between equals
     Equivalence in mutual exchange
    based on arithmetical proportion
     Exchange

    2 form of exchange :
    Voluntary – to be protected
    Involuntary – to be corrected
    Just price

    The nature of exchange


     Exchange is a relationship between individuals
     Voluntary exchange must be equivalent
    BUT
     Objects of exchange are heterogeneous
     Subjects of exchange are different
    SOLUTION
     Money and prices
    The theory of money

     Common good
     Functions of money:
    o Measure of value
    o Means of exchange
    o Storage of value
     Aristotle on ‘inflationary’
    policies
    Priceless exchange: the case
    of friendship
     Friendship
    as a form of
    commutative justice
     Friendship and social relations
     Types of friendly relations:
    o Friendship for its own sake
    o Pleasant friendship
    o Useful friendship
    The art of household
    Aristotelian tradition
    (III BC – XVII)
     Model of person (=>social regulation is required)
     Model of society (‘polis’)
     Set of policy proposals to ensure stability (‘justice’) of
    exchanges in society

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