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Just Price
The just price is a theory of ethics in economics that attempts to set standards of fairness in transactions. With intellectual roots in ancient Greek philosophy, it was advanced by Thomas Aquinas based on an argument against usury, which in his time referred to the making of any rate of interest on loans. It gave rise to the contractual principle of '' laesio enormis''. Unjust price: a kind of fraud The argument against usury was that the lender was receiving income for nothing, since nothing was actually lent, rather the money was exchanged. And, a dollar can only be fairly exchanged for a dollar, so asking for more is unfair. Aquinas later expanded his argument to oppose any unfair earnings made in trade, basing the argument on the Golden Rule. The Christian should "do unto others as you would have them do unto you", meaning he should trade value for value. Aquinas believed that it was specifically immoral to raise prices because a particular buyer had an urgent need for what ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gentile Da Fabriano 052
Gentile () is a word that usually means "someone who is not a Jew". Other groups that claim Israelite heritage, notably Mormons, sometimes use the term ''gentile'' to describe outsiders. More rarely, the term is generally used as a synonym for ''heathen'' or '' pagan''. In some translations of the Quran, ''gentile'' is used to translate an Arabic word that refers to non-Jews and/or people not versed in or not able to read scripture. The English word ''gentile'' derives from the Latin word , meaning "of or belonging to the same people or nation" (). Archaic and specialist uses of the word ''gentile'' in English (particularly in linguistics) still carry this meaning of "relating to a people or nation." The development of the word to principally mean "non-Jew" in English is entwined with the history of Bible translations from Hebrew and Greek into Latin and English. Its meaning has also been shaped by Rabbinical Jewish thought and Christian theology which, from the 1st centur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply And Demand
In microeconomics, supply and demand is an economic model of price determination in a Market (economics), market. It postulates that, Ceteris paribus, holding all else equal, in a perfect competition, competitive market, the unit price for a particular Good (economics), good, or other traded item such as Labour supply, labor or Market liquidity, liquid financial assets, will vary until it settles at a point where the quantity demanded (at the current price) will equal the quantity supplied (at the current price), resulting in an economic equilibrium for price and quantity transacted. The concept of supply and demand forms the theoretical basis of modern economics. In macroeconomics, as well, the AD–AS model, aggregate demand-aggregate supply model has been used to depict how the quantity of real GDP, total output and the aggregate price level may be determined in equilibrium. Graphical representations Supply schedule A supply schedule, depicted graphically as a supply cu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freedom Of Contract
Freedom of contract is the process in which individuals and groups form contracts without government restrictions. This is opposed to government regulations such as minimum-wage laws, competition laws, economic sanctions, restrictions on price fixing, or restrictions on contracting with undocumented workers. The freedom to contract is the underpinning of ''laissez-faire'' economics and is a cornerstone of free-market libertarianism. The proponents of the concept believe that through "freedom of contract", individuals possess a general freedom to choose with whom to contract, whether to contract or not, and on which terms to contract. History Henry James Sumner Maine proposed that social structures evolve from roles derived from social status to those based on contractual freedom. A status system establishes obligations and relationships by birth, but a contract presumes that the individuals are free and equal. Modern libertarianism, such as that advanced by Robert Nozick, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unjust Enrichment
In laws of equity, unjust enrichment occurs when one person is enriched at the expense of another in circumstances that the law sees as unjust. Where an individual is unjustly enriched, the law imposes an obligation upon the recipient to make restitution, subject to defences such as change of position. Liability for an unjust (or unjustified) enrichment arises irrespective of wrongdoing on the part of the recipient. The concept of unjust enrichment can be traced to Roman law and the maxim that "no one should be benefited at another's expense": ''nemo locupletari potest aliena iactura'' or ''nemo locupletari debet cum aliena iactura''. The law of unjust enrichment is closely related to, but not co-extensive with, the law of restitution. The law of restitution is the law of gain-based recovery. It is wider than the law of unjust enrichment. Restitution for unjust enrichment is a subset of the law of restitution in the same way that compensation for breach of contract is a subset of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corpus Juris Civilis
The ''Corpus Juris'' (or ''Iuris'') ''Civilis'' ("Body of Civil Law") is the modern name for a collection of fundamental works in jurisprudence, issued from 529 to 534 by order of Justinian I, Byzantine Emperor. It is also sometimes referred to metonymically after one of its parts, the Code of Justinian. The work as planned had three parts: the ''Code'' (''Codex'') is a compilation, by selection and extraction, of imperial enactments to date; the '' Digest'' or ''Pandects'' (the Latin title contains both ''Digesta'' and ''Pandectae'') is an encyclopedia composed of mostly brief extracts from the writings of Roman jurists; and the ''Institutes'' (''Institutiones'') is a student textbook, mainly introducing the ''Code'', although it has important conceptual elements that are less developed in the ''Code'' or the ''Digest''. All three parts, even the textbook, were given force of law. They were intended to be, together, the sole source of law; reference to any other source, inclu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsistence And Rebellion In Southeast Asia
A subsistence economy is an economy directed to basic subsistence (the provision of food, clothing, shelter) rather than to the market. Henceforth, "subsistence" is understood as supporting oneself at a minimum level. Often, the subsistence economy is moneyless and relies on natural resources to provide for basic needs through hunting, gathering, and agriculture. In a subsistence economy, economic surplus is minimal and only used to trade for basic goods, and there is no industrialization. In hunting and gathering societies, resources are often if not typically underused. In human history, before the first cities, all humans lived in a subsistence economy. As urbanization, civilization, and division of labor spread, various societies moved to other economic systems at various times. Some remain relatively unchanged, ranging from uncontacted peoples, to marginalized areas of developing countries, to some cultures that choose to retain a traditional economy. Capital can be gener ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James C
James is a common English language surname and given name: *James (name), the typically masculine first name James * James (surname), various people with the last name James James or James City may also refer to: People * King James (other), various kings named James * Saint James (other) * James (musician) * James, brother of Jesus James the Just, or a variation of James, brother of the Lord ( la, Iacobus from he, יעקב, and grc-gre, Ἰάκωβος, , can also be Anglicized as " Jacob"), was "a brother of Jesus", according to the New Testament. He was an early le ... Places Canada * James Bay, a large body of water * James, Ontario United Kingdom * James College, York, James College, a college of the University of York United States * James, Georgia, an unincorporated community * James, Iowa, an unincorporated community * James City, North Carolina * James City County, Virginia ** James City (Virginia Company) ** James City Shire * James City, Pe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Moral Economy
Moral economy refers to economic activities viewed through a moral, not just a material, lens. The definition of moral economy is constantly revisited depending on its usage in differing social, economic, ecological, and geographic situations and times. The concept was developed in 1971 by the British Marxist social historian and political activist E. P. Thompson in his essay, "The Moral Economy of the English Crowd in the Eighteenth Century", to describe and analyze a specific class struggle in a specific era, from the perspective of the poorest citizens—the "crowd". While Thompson had used the term moral economy in his 1963 book ''The Making of the English Working Class'', it was in the 1971 essay that he provided a thick description of the centuries-old paternalistic feudal moral economy of production and exchange that was rapidly being replaced by the classical political economy. Thompson saw the "crowd" as subjects, not objects, of history. He used the analytical tools of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest Rate
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed. The annual interest rate is the rate over a period of one year. Other interest rates apply over different periods, such as a month or a day, but they are usually annualized. The interest rate has been characterized as "an index of the preference . . . for a dollar of present ncomeover a dollar of future income." The borrower wants, or needs, to have money sooner rather than later, and is willing to pay a fee—the interest rate—for that privilege. Influencing factors Interest rates vary according to: * the government's directives to the central bank to accomplish the government's goals * the currency of the principal sum lent or borrowed * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Returns (economics)
Returns, in economics and political economy, are the distributions or payments awarded to the various suppliers of a good or service Wages Wages are the return to labor—the return to an individual's involvement (mental or physical) in the creation or realization of goods or services. Wages are realized by an individual supplier of labor even if the supplier is the self. A person gathering mushrooms in a national forest for the purpose of personal consumption is realizing wages in the form of mushrooms. A payer of wages is paying for a service performed by one or more individuals and sees wages as a cost. Rent In classical economics rent was the return to an "owner" of land. In later economic theory this term is expanded as economic rent to include other forms of unearned income typically realized from barriers to entry. Land ownership is considered to be a barrier to entry because land owners make no contribution to the production process. They simply prevent others from using t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adam Smith
Adam Smith (baptized 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment. Seen by some as "The Father of Economics"——— or "The Father of Capitalism",———— he wrote two classic works, ''The Theory of Moral Sentiments'' (1759) and ''The Wealth of Nations, An Inquiry into the Nature and Causes of the Wealth of Nations'' (1776). The latter, often abbreviated as ''The Wealth of Nations'', is considered his ''magnum opus'' and the first modern work that treats economics as a comprehensive system and as an academic discipline. Smith refuses to explain the distribution of wealth and power in terms of God's will, God’s will and instead appeals to natural, political, social, economic and technological factors and the interactions between them. Among other economic theories, the work introduced Smith's idea of absolute advantage. Smith studied social philos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ibn Taymiyyah
Ibn Taymiyyah (January 22, 1263 – September 26, 1328; ar, ابن تيمية), birth name Taqī ad-Dīn ʾAḥmad ibn ʿAbd al-Ḥalīm ibn ʿAbd al-Salām al-Numayrī al-Ḥarrānī ( ar, تقي الدين أحمد بن عبد الحليم بن عبد السلام النميري الحراني ),Ibn Taymiyyah, Taqi al-Din Ahmad, The Oxford Dictionary of Islam. http://www.oxfordreference.com/view/10.1093/acref/9780195125580.001.0001/acref-9780195125580-e-959 was a Sunni Muslim ʿĀlim, muhaddith, judge, proto-Salafist theologian, and sometimes controversial thinker and political figure. He is known for his diplomatic involvement with the Ilkhanid ruler Ghazan Khan and for his involvement at the Battle of Marj al-Saffar which ended the Mongol invasions of the Levant. A member of the Hanbali school, Ibn Taymiyyah's iconoclastic views that condemned numerous folk practices associated with saint veneration and the visitation of tomb-shrines made him unpopular with many schol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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