into an examination of the
whole history of the period; but we think it well to inquire briefly
how far the teaching of the Church on economic matters was calculated
to interfere with material progress. This is the lowest standard
by which we can judge the mediaeval economic teaching, which was
essentially aimed at the moral and spiritual elevation of mankind; but
it is a standard which it is worth while to apply, as it is that
by which the doctrines of the scholastics have been most generally
condemned by modern critics. To test the mediaeval economic doctrine
by this, the lowest standard, it may be said that it made for the
establishment and development of a rich and prosperous community. We
may summarise the aim of the mediaeval teaching by saying that, in the
material sphere, it aimed at extended production, wise consumption,
and just distribution, which are the chief ends of all economic
activity.

It aimed at extended production through its insistence on the
importance and dignity of manual labour.[1] As we showed above, one of
the principal achievements of Christianity in the social sphere was
to elevate labour from a degrading to an honourable occupation. The
example of Christ Himself and the Apostles must have made a deep
impression on the early Christians; but no less important was the
living example to be seen in the monasteries. The part played by the
great religious orders in the propagation of this dignified conception
cannot be exaggerated. St. Anthony had advised his imitators to busy
themselves with meditation, prayer, and the labour of their hands, and
had promised that the fear of God would reside in those who laboured
at corporal works; and similar exhortations were to be found in the
rules of Saints Macarius, Pachomius, and Basil.[2] St. Augustine and
St. Jerome recommended that all religious should work for some
hours each day with their hands, and a regulation to this effect was
embodied in the Rule of St. Benedict.[3] The example of educated
and holy men voluntarily taking upon themselves the most menial and
tedious employments must have acted as an inspiration to the laity.
The mere economic value of the monastic institutions themselves must
have been very great; agriculture was improved owing to the assiduity
and experiments of the monks;[4] the monasteries were the nurseries
of all industrial and artistic progress;[5] and the example of
communities which consumed but a small proportion of wh