The Legacy of Scholasticism in Economic Thought

Focusing on the evolution of economic thought, this study explores the complexities of exchange economics, including prices, wages, and interest rates. It examines how individuals often make financial decisions out of necessity rather than genuine choice, a concept first articulated by medieval university scholars. The narrative traces this critical discussion from its medieval origins to contemporary perspectives, highlighting the enduring relevance of economic compulsion in shaping human behavior and market dynamics.