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Keeping Promises
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Abstract
Starting with a discussion of Benjamin Franklin’s notion that wealth-creation and economic success is intimately linked with gaining trust and honouring one’s promises, this chapter highlights the juridical framework within which the economic debates of the scholastics took place. Considering that the market is foremostely a human construct and institution built upon the normative principle that promises should be kept and agreements enforced, the early modern scholastics grasped business transactions essentially through the prism of contract law. So, this chapter explores the religious roots of one of the great dogmatic foundations of the market economy: the belief in the power of keeping promises. The contribution of canon law and moral theology to the development of modern contract doctrine, including the notion that accepted promises are binding, is highlighted.
Title: Keeping Promises
Description:
Abstract
Starting with a discussion of Benjamin Franklin’s notion that wealth-creation and economic success is intimately linked with gaining trust and honouring one’s promises, this chapter highlights the juridical framework within which the economic debates of the scholastics took place.
Considering that the market is foremostely a human construct and institution built upon the normative principle that promises should be kept and agreements enforced, the early modern scholastics grasped business transactions essentially through the prism of contract law.
So, this chapter explores the religious roots of one of the great dogmatic foundations of the market economy: the belief in the power of keeping promises.
The contribution of canon law and moral theology to the development of modern contract doctrine, including the notion that accepted promises are binding, is highlighted.
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