Licit and Illicit Risks in Thomas Aquinas’s De emptione et venditione ad tempus

Bibliographic Data

ID13034657
AuthorsPierre Januard (0000-0003-0574-0086, Université Paris 1 Panthéon-Sorbonne, corresponding author)
Year2022
Volume12-2
Pages233-271
Publication date2022-01-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueOEconomia (JOURNAL)
Journal identifiersISSN: 2113-5207 • E-ISSN: 2269-8450
PublisherAssociation Œconomia (PUBLISHER • FR)
DOI10.4000/oeconomia.12774
OpenAlexW4313290565
LanguageEN
Citations received4
References cited55

In De emptione et venditione ad tempus, a brief early letter on forward selling, Thomas Aquinas presents a risk inherent in the intertemporal dimension of exchange, but inherent also in licit expenses such as transport, and illicit ones such as borrowing costs or expenses incurred without attention or unwisely, which the merchant may or may not pass on via the price. These expenses appear as risks which are described here for the case of forward sale, but are properly inherent to any commercial activity. While transport is a part of the merchant’s activity and represents the paradigm of licit risk, imprudence characterises two stages of failure in his management, namely negligence and mismanagement, and hence leads to illicit risk

Actuarial science · Business · Dimension (graph theory · Economics · Law and economics · Political science · TEMPUS · Historical Economic and Legal Thought · Historical Economic and Social Studies · Law · Medieval Philosophy and Theology