subject incidentally. Two points in particular
are touched on, the utility of money and the injustice of usury.
The passages of the philosopher dealing with these subjects are of
particular interest, as they may be said, with a good deal of truth,
to be the true starting point of mediaeval economics.[1] The writings
of Aristotle arrested the attention, and aroused the admiration of
the theologians of the thirteenth century; and it would be quite
impossible to exaggerate the influence which they exercised on the
later development of mediaeval thought. Albertus Magnus digested,
interpreted, and systematised the whole of the works of the Stagyrite;
and was so steeped in the lessons of his philosophic master as to be
dubbed by some 'the ape of Aristotle.' Aquinas, who was a pupil of
Albertus, also studied and commented on Aristotle, whose aid he was
always ready to invoke in the solution of all his difficulties. With
the single and strange exception of Vincent de Beauvais, Aristotle's
teaching on money was accepted by all the writers of the thirteenth
century, and was followed by later generations.[2] The influence
of Aristotle is apparent in every article of the _Summa_, which was
itself the starting point from which all discussion sprang for the
following two centuries; and it is not too much to say that the
Stagyrite had a decisive influence on the introduction of economic
notions into the controversies of the Schools. 'We find in the
writings of St. Thomas Aquinas,' says Ingram, 'the economic doctrines
of Aristotle reproduced with a partial infusion of Christian
elements.'[3]

[Footnote 1: Jourdain, _op. cit._, p. 7.]

[Footnote 2: _Ibid._, p. 12.]

[Footnote 3: _Op. cit._, p. 27. Espinas thinks that the influence
of Aristotle in this respect has been exaggerated. (_Histoire des
Doctrines Economiques_, p. 80.)]

In support of the account we have given of the development of economic
thought in the thirteenth century, we may quote Cossa: 'The revival
of economic studies in the Middle Ages only dates from the thirteenth
century. It was due in a great measure to a study of the _Ethics_ and
_Politics_ of Aristotle, whose theories on wealth were paraphrased by
a considerable number of commentators. Before that period we can only
find moral and religious dissertations on such topics as the proper
use of material goods, the dangers of luxury, and undue desire for
wealth. This is easily explained when we take into considera