mmmm This page intentionally left blank A cluster of intellectual innovations appearing within scholastic natural philosophy in the fourteenth century played a critical role in the future development of scientific thought. Beneath these innovations lay a profoundreconceptualizationofnature.Thisbookattemptstoanalyzethe componentsofthisreconceptualizationandtouncoverthepressuresand concernsthatshapedit.Todoso,itlooksbothwithintheuniversityand beyondit,tothe monetizedsocietythatsurroundedandsupportedit. It argues that the transformation of the conceptual model of the natural world within scholastic natural philosophy c. – was directly linked to the social and economic process of monetization that trans- formed European society over this same period. It illustrates how those perceptualshiftsessentialtotheemergenceofmodernscientificthought– theshiftstowardquantification,geometricrepresentation,multiplication, relativity,probability,mechanisticorder,anddynamicequilibrium–were groundedintheexperienceandcomprehensionofmonetizedsociety. The book’s earlier chapters analyze scholastic writings on economic questions (particularly those found in commentaries on Aristotle’s dis- cussionof exchangeinNicomacheanEthics.), focussingonthesix new categories of analysis and description devised by philosophers to make senseoftheir experienceofmonetizedsociety.Theconcludingchapters investigatethetransmissionofphilosophicalinsightsfromthecomprehen- sionofthemonetizedmarketplacetothecomprehensionandconstruction of nature. They reveal how intellectual developments pioneered within each of the six new categories of economic analysis lie at the base of the most forward-looking conceptual advances within scholastic natural philosophy– advances that proved to be crucial to the further develop- mentofscientificthought. mmmm CambridgeStudiesinMedievalLifeandThought:FourthSeries ECONOMY AND NATURE IN THE FOURTEENTH CENTURY CambridgeStudiesinMedievalLifeandThought Fourthseries GeneralEditor: . .  LeverhulmePersonalResearchProfessorofMedievalHistory,UniversityofSheffield AdvisoryEditors: . .  ProfessorofMedievalHistory,UniversityofCambridge,andFellowofChrist’sCollege  ProfessorofEarlyMedievalEuropeanHistory,UniversityofCambridge,andFellowofNewnhamCollege TheseriesCambridgeStudiesinMedievalLifeandThoughtwasinauguratedby G.C.Coultonin.ProfessorD.E.LuscombenowactsasGeneralEditorof theFourthSeries,withProfessorsR.B.DobsonandRosamondMcKitterickas Advisory Editors. The series brings together outstanding work by medieval scholarsoverawiderangeofhumanendeavourextendingfrompoliticalecon- omytothehistoryofideas. Foralistoftitlesintheseries,seeendofbook. ECONOMY AND NATURE IN THE FOURTEENTH CENTURY Money, market exchange, fi and the emergence of scienti c thought JOEL KAYE BarnardCollege           The Pitt Building, Trumpington Street, Cambridge, United Kingdom    The Edinburgh Building, Cambridge CB2 2RU, UK 40 West 20th Street, New York, NY 10011-4211, USA 477 Williamstown Road, Port Melbourne, VIC 3207, Australia Ruiz de Alarcón 13, 28014 Madrid, Spain Dock House, The Waterfront, Cape Town 8001, South Africa http://www.cambridge.org ©Joel Kaye 2004 First published in printed format 1998 ISBN 0-511-03849-6 eBook (Adobe Reader) ISBN 0-521-57276-2 hardback ISBN 0-521-79386-6 paperback CONTENTS Acknowledgments page ix      :                      Mathematics and the geometry of exchange  Equality, the mean, and equalization in exchange  Money as medium and as measure  Relation and the relativity of value in exchange  The social geometry of monetized society  Negative attitudes toward money and exchange             :       Mathematics and the geometry of exchange  Equality, the mean, and equalization in exchange  Money as medium and as measure  Relation and the relativity of value in exchange  The social geometry of monetized society  Common valuation in exchange  A problem introduced by the early commentaries  vii Contents             Equality in usury theory  Equality in just price theory and market exchange  Twomodelsofeconomicequalization:HenryofGhentand Godfrey of Fontaines                  Equality, the mean, and equalization in exchange  Mathematics and the geometry of exchange  Money as medium and as measure  Relation and the relativity of value in exchange  Common valuation in exchange  The social geometry of monetized society            -   -    Money as medium and as measure            -      The social geometry of monetized society  Mathematics and the geometry of exchange  Equality, the mean, and equalization in exchange  Common valuation in exchange  Relation and the relativity of value in exchange  Bibliography  Index  viii