Between Free Markets and a Planned Economy

Prices and their regulation in the Talmud

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Author: Axel Reimann
Length: 11 page(s)
Language: English
Written: Mar 1995
Verkaufsrang: - XinXii Verkaufsrang
Views: 111

Category: Religion & Spirituality » Judaism  |  Work: Sonstiges
Keywords: economics, Talmud, just price, economic doctrines, inflation, deflation, regulation, market economy, rabbinic literature

The concept of the "just price" and its reflection in Rabbinic literature

The medieval discussion about a „just price“ had its origins both in the writings of the Greek philosophers and in the biblical laws of Judeo-Christian tradition. The sages of the Talmudic period anticipated the price discussion in their writings. The question of this paper is how the rabbis balanced their teachings between a free (unregulated) market economy and a socially necessary system of price control. This tension still dominates today's economic discussions.


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