By Joel Kaye
The proper of stability and its organization with what's ordered, simply, and healthy remained unchanged through the medieval interval. The significant position distributed to stability within the workings of nature and society additionally remained unchanged. What replaced in the tradition of scholasticism, among nearly 1280 and 1360, was once the emergence of a significantly increased feel of what stability is and will be. during this groundbreaking heritage of stability, Joel Kaye unearths that this new feel of stability and its possibilities turned the foundation of a brand new version of equilibrium, formed and shared by way of the main acute and leading edge thinkers of the interval. via a spotlight on 4 disciplines - scholastic monetary notion, political proposal, clinical proposal, and ordinary philosophy - Kaye's booklet unearths that this new version of equilibrium spread out amazing new vistas of imaginitive and speculative chance, making attainable a profound re-thinking of the area and its workings.
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Extra resources for A History of Balance, 1250-1375: The Emergence of a New Model of Equilibrium and its Impact on Thought
There was much more at stake here than the overturning of a purely economic position. Abandoning usury theory would, by the thirteenth century, entail overturning a string of papal decisions and authoritative canons, beginning with those cited by Gratian. And, further, it would mean overthrowing the theological ediﬁce of sin, restitution, and penance that had been built upon these canons since the twelfth century. At its furthest, it would mean overturning divine laws against usury, with their source in the Hebrew and Christian Bible.
Ibid. ” Although Augustine does not use the technical term “fungible” in this citation, his debt to Roman law is clear. In Roman law, fungible goods have two qualities that set them apart from other goods: (1) they can be freely replaced by another of like kind and identical quantity in the satisfaction of an obligation, and (2) such substitution is necessary because the fungible (whether wheat, wine, oil, or in this case money) is consumed in its use, so the original cannot be returned. 5 Where in the Christian spiritual realm “superhabundantia” is a beneﬁt promised to believers, Jerome insists that its production in the economic sphere is an unnatural deformation.
Solutions offered by lawyers to questions touching on usury and restitution from the thirteenth century onward became increasingly latitudinarian in order to do justice to the actual complexities attached to exchange and to provide equitable solutions to real problems. For the most part, the position espoused by theologians remained that a loan should be made out of charity and without any hope of return beyond the sum lent. But within the disciplines of Roman and canon law, which required the observation and analysis of actual cases and existing conditions, the realization grew that if the lender was to be denied the expectation of reward, he must at the same time be protected from damages associated with the act of lending.
A History of Balance, 1250-1375: The Emergence of a New Model of Equilibrium and its Impact on Thought by Joel Kaye