Just Price

Discipline: Economics

Associated with medieval schoolmen, particularly St. Thomas Aquinas (1225-1274), just price concept has no allocative role but is rather a moral concept based on natural justice: the just price depends on moral judgment of a good or service.

Source:
V A Demant, ed., The Just Price, An Outline of the Medieval Doctrine and Examination of its Possible Equivalent Today (London, 1930)

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