6-th topic. The most ancient economic theories

Aristotle is one of science coryphaeus that studied economic problems in ancient times. For all times, Aristotle’s economic ideas were in the notable philosophers’ focus of attention, that engaged in society problems.

He named the use value expressed wealth as “natural”, but exchange value expressed wealth as “unnatural”.

From Arostotle’s poin of view, farm activity is “economy”. To acquire wealth is simply property and housing.

Studying the role of trade and usury in the economic relations and property relations Aristotle wrote that, “…there is no limit in wealth accumulating, because, the main aim is to accumulate unlimited property and wealth, to get unlimited money. All people that dealing with cash flow try to infinitively increase their capitals.”

Aristotle evaluated the economy naturally, but housing and estate collection unnaturally. He indicated that, the distribution of goods should be conducted with the principle of justice. This kind of distribution should be conducted depending on dignity and people’s position in society and public issues. From the philosopher’s point of view, economy softly, but at the same time gradually overturns to property relations and housing.

Some materials were used from the book of “The history of economic studies” published under  editing by M.Meybullayev

Aghanemat Aghayev