section_path: Philosophy/Economics
section_name: Economics
paragraph_text: Economics
  
  Thomas Aquinas addressed most economic questions within the framework of justice, which he contended was the highest of the moral virtues. He says that justice is "a habit whereby man renders to each his due by a constant and perpetual will." He argued that this concept of justice has its roots in natural law. Joseph Schumpeter, in his History of Economic Analysis, concluded that "All the economic questions put together matters less to him than did the smallest point of theological or philosophical doctrine, and it is only where economic phenomena raise questions of moral theology that he touches upon them at all."
  
  Modern Western views concerning capitalism, unfair labor practice, living wage, price gouging, monopolies, fair trade practices, and predatory pricing, inter alia, are remnants of the inculcation of Aquinas' interpretation of natural moral law.