School of Salamanca

Explore the graph to discover the key thinkers and ideas of the School of Salamanca, and learn how their work shaped modern law, economics, human rights, and international relations.

A Short Account of the Destruction of the Indies is an account written by the Spanish Dominican friar Bartolomé de las Casas in 1542 about the mistreatment of and atrocities committed against the Indigenous peoples of the Americas in colonial times and sent to then prince Philip II of Spain.

• Written in **1542** by **Bartolomé de las Casas**.
• Addressed to **Philip II of Spain**.
• Details atrocities against **Indigenous peoples**.

Academic skepticism was the philosophy of the skeptical period of the Academy dating from around 266 BCE, when Arcesilaus became scholarch, until around 90 BCE, when Antiochus of Ascalon rejected skepticism, although individual philosophers, such as Favorinus and his teacher Plutarch, continued to defend skepticism after this date.

• Active from approximately **266 BCE** to **90 BCE**.
• Key figures included **Arcesilaus**, **Carneades**, and **Philo of Larissa**.
• Maintained that **knowledge of things** is impossible.

Adam Smith was a Scottish economist and philosopher who was a pioneer in the field of political economy and key figure during the Scottish Enlightenment.

• Authored **The Wealth of Nations** in **1776**.
• Key figure of the **Scottish Enlightenment**.
• Pioneered the concept of **absolute advantage**.

Aeterni Patris was an encyclical issued by Pope Leo XIII in August 1879.

• Issued by **Pope Leo XIII** in **August 1879**.
• Focuses on the restoration of **Christian philosophy** in schools.
• Promotes the specific methodology of **St. Thomas Aquinas**.

Alfred Marshall was an English economist and one of the most influential economists of his time.

• Published **Principles of Economics** in **1890**.
• Popularized the **neoclassical approach** to economics.
• Synthesized **supply and demand** with **marginal utility**.

Alonso Gutiérrez, known by his religious name Fray Alonso de Veracruz, was a Spanish Augustinian friar, missionary, philosopher, theologian and jurist who played a leading role in the establishment of higher education and the defence of indigenous rights in New Spain.

The Archdiocese of Valencia is a Latin Church diocese of the Catholic Church located in north-eastern Spain, in the province of Valencia, part of the autonomous community of Valencia.

• Located in the **province of Valencia**, Spain.
• Heads the **ecclesiastical province of Valencia**.
• Exercises authority over suffragan dioceses including **Ibiza**, **Majorca**, and **Minorca**.

Aristotelianism is a philosophical tradition inspired by the work of Aristotle, usually characterized by deductive logic and an analytic inductive method in the study of natural philosophy and metaphysics.

• Rooted in the diverse writings of **Aristotle**.
• Utilizes the **four causes** to explain natural phenomena.
• Emphasizes the concept of **telos** or purpose.

The Austrian business cycle theory (ABCT) is an economic theory developed by the Austrian School of economics.

• Identifies **central bank intervention** as the cause of business cycles.
• Focuses on the manipulation of **interest rates** as a primary distortion.
• Describes the boom phase as a period of **malinvestment**.

The Austrian school of economics is a school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result primarily from the motivations and actions of individuals along with their self-interest.

Bartolomé Carranza was a Navarrese priest of the Dominican Order, theologian and Archbishop of Toledo.

• **Bartolomé Carranza** held the high ecclesiastical office of **Archbishop of Toledo**.
• He was a member of the **Dominican Order** and a noted theologian.
• He was first denounced for heresy in **1530**.

Bartolomé de Medina, was a Spanish theologian born in Medina de Rioseco, Spain.

Bartolomé de las Casas, OP ; 11 November 1484 – 18 July 1566) was a Spanish lawyer, clergyman, writer, and activist best known for his work as a historian and social reformer.

Modern Biblical criticism is the use of critical analysis to understand and explain the Bible without appealing to the supernatural.

• Originated as **historical-biblical criticism** in the **eighteenth century**.
• Operates by excluding **supernatural** interpretations.
• Employs **reason-based judgment** to avoid **dogma and bias**.

Bimetallism, also known as the bimetallic standard, is a monetary standard in which the value of the monetary unit is defined as equivalent to certain quantities of two metals, creating a fixed rate of exchange between them.

• **Bimetallism** is a monetary standard based on two metals.
• The system establishes a **fixed rate of exchange** between the metals.
• Historically, the metals used are **gold and silver**.

The Black Legend or the Spanish Black Legend is a purported historiographical tendency which consists of anti-Spanish and anti-Catholic propaganda.

• Purported anti-Spanish and **anti-Catholic propaganda**.
• Roots traced back to the **16th century**.
• Used by **European rivals** to counter Spanish power.

Bullionism is an economic theory that defines wealth by the amount of precious metals owned.

• **Bullionism** defines national wealth by the quantity of **precious metals** owned.
• It is considered an early, primitive form of **mercantilism**.
• The theory emerged during the **16th century**.

Canon law is a set of ordinances and regulations made by ecclesiastical authority for the government of a Christian organization or church and its members.

• Comprised of **ordinances and regulations** created by church authorities.
• Governs the **internal administration** and conduct of members within a Christian organization.
• Functions as a formal **legal system** distinct from secular law.

Carl Menger von Wolfensgrün was an Austrian economist who contributed to the marginal theory of value.

• Recognized as the **founder** of the Austrian school of economics.
• Developed the **marginal theory of value** to explain price formation.
• Lived from **1840 to 1921**.

In Catholic moral theology, probabilism provides a way of answering the question about what to do when one does not know what to do.

• The doctrine was first formulated in **1577**.
• It was introduced by the Dominican theologian **Bartholomew Medina**.
• The theory originated at the **University of Salamanca**.

Censorship in Spain involves the suppression of speech or public communication and raises issues of freedom of speech.

• Involves the **suppression of speech** and public discourse.
• Directly impacts the exercise of **freedom of speech**.
• Historically utilized to control **public communication**.

A central bank, reserve bank, national bank, state bank, or monetary authority is a financial institution that manages the monetary policy of a country or monetary union.

• Central banks hold a **monopoly on increasing the monetary base**.
• They are tasked with managing **monetary policy** and currency.
• Regulatory duties include preventing **bank runs** and enforcing financial consumer protection.

Charles University, also known historically as the University of Prague, is the largest university in the Czech Republic.

• Known historically as the **University of Prague**.
• Recognized as the **third oldest university** north of the **Alps**.
• Maintains **17 faculties** across three cities: **Prague**, **Hradec Králové**, and **Plzeň**.

Charles V was Holy Roman Emperor and Archduke of Austria from 1519 to 1556, King of Spain from 1516 to 1556, King of Sicily and Naples from 1516 to 1554, and also Lord of the Netherlands and titular Duke of Burgundy from 1506 to 1555.

• Reigned as **Holy Roman Emperor** from **1519** to **1556**.
• Inherited the **House of Habsburg** domains.
• Ruled over **Spain**, **Sicily**, **Naples**, and the **Netherlands**.

The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles.

• The school is a **neoclassical** approach to economic thought.
• It is based at the **University of Chicago**.
• **Milton Friedman** is one of its most influential leading scholars.

Christopher Columbus was an Italian explorer and navigator from the Republic of Genoa who completed four Spanish transatlantic voyages in the name of the Catholic Monarchs, opening the way for the widespread European exploration and colonization of the Americas.

• Native of the **Republic of Genoa**.
• Completed **four** transatlantic voyages.
• Sponsored by the **Catholic Monarchs**.

Civic virtue is a concept that refers to the set of habits, values, and attitudes that promote the general welfare and the effective functioning of a society.

• Promotes the **general welfare** of society.
• Requires citizens to prioritize the **common good**.
• Closely tied to the responsibilities of **citizenship**.

In philosophy, economics, and political science, the common good is either what is shared and beneficial for all or most members of a given community, or alternatively, what is achieved by citizenship, collective action, and active participation in the realm of politics and public service.

In economics, a common-pool resource (CPR) is a type of good consisting of a natural or human-made resource system, whose size or characteristics makes it costly, but not impossible, to exclude potential beneficiaries from obtaining benefits from its use.

• Characterized by being **subtractable** and difficult to exclude users.
• Prone to **congestion and overuse**.
• Consists of a **core resource** and extractable **fringe units**.

Comparative advantage is the circumstance or opportunity of welfare improvement afforded by allocating one's labor and other resources amongst one's available opportunities.

• Based on the **lower relative opportunity cost** of production.
• Focuses on the **optimal allocation** of labor and resources.
• Distinct from **absolute advantage** and competitive advantage.

The Congregatio de Auxiliis was a commission established by Pope Clement VIII to settle a theological controversy regarding divine grace that had arisen between the Dominicans and the Jesuits towards the close of the sixteenth century.

• Established by **Pope Clement VIII**.
• Addressed theological controversies regarding **divine grace**.
• Mediated disputes between the **Dominicans** and the **Jesuits**.

The Conimbricenses are an important collection of Jesuit commentaries on Aristotle compiled at University of Coimbra in Coimbra, Portugal.

• The collection consists of **Jesuit commentaries** on the philosophy of **Aristotle**.
• The work was compiled at the **University of Coimbra** in **Portugal**.
• It served as a foundational curriculum for **Jesuit education** in the **16th and 17th centuries**.

In economics, the cost-of-production theory of value is the theory that the price of an object or condition is determined by the sum of the cost of the resources that went into making it.

The Council of Castile, known earlier as the Royal Council, was a ruling body and key part of the domestic government of the Crown of Castile, second only to the monarch himself.

• Known historically by the name **Royal Council**.
• Acted as a central **ruling body** for the **Crown of Castile**.
• Maintained a status of authority second only to the **monarch**.

The Council of Trent, held between 1545 and 1563 in Trent, in Northern Italy, was the 19th ecumenical council of the Catholic Church.

• Held over eighteen years from **1545** to **1563**.
• Located in **Trent**, Northern Italy.
• Served as the primary response to the **Protestant Reformation**.

The Council of the Indies, officially the Royal and Supreme Council of the Indies, was the most important administrative organ of the Spanish Empire for the Americas and those territories it governed, such as the Spanish East Indies.

• Established in **1524** by **Charles V** to oversee colonial administration.
• Modeled after the **Council of Castile** to manage overseas territories.
• Granted permanent status in **Madrid** in **1561** by **Philip II**.

The Counter-Reformation, also sometimes called the Catholic Revival or the Catholic Reformation, was the period of Catholic resurgence that was initiated in response to and as an alternative to, or from similar insights as, the Protestant Reformation.

• The Counter-Reformation is also referred to as the **Catholic Revival** or **Catholic Reformation**.
• It was initiated as a response to the **Protestant Reformation**.
• The movement was characterized by a comprehensive effort to reform the Church.

Counterfactual conditionals are conditional sentences that describe what would have been true if circumstances had been different, typically when the antecedent is taken to be false or incompatible with what actually happened.

• Counterfactuals describe what would have been true if **circumstances had been different**.
• The **antecedent** in a counterfactual is typically taken to be false or incompatible with reality.
• They are often formed using **past or irrealis morphology**.

David Ricardo was a British economist and politician.

• Influential **British classical economist**.
• Contemporary of **Thomas Malthus** and **James Mill**.
• Active as both an **economist** and a **politician**.

A debasement of coinage is the practice of lowering the intrinsic value of coins, especially when used in connection with commodity money, such as gold or silver coins, while continuing to circulate it at face value.

• **Debasement** involves reducing the intrinsic value of **coins**.
• The practice maintains the coin's **face value** despite lower metal content.
• Commonly used metals in coinage include **gold**, **silver**, **copper**, and **nickel**.

Decision theory or the theory of rational choice is a branch of probability, economics, and analytic philosophy that uses expected utility and probability to model how individuals would behave rationally under uncertainty.

• Uses **expected utility** and probability to model choices.
• Functions as a **prescriptive theory** for rational agents.
• Distinguished from **descriptive behavioral sciences**.

In economics, deflation is an increase in the real value of the monetary unit of account, as reflected in a decrease in the general price level of goods and services exchanged, measurable by broad price indices.

• **Deflation** is a decrease in the **general price level** of goods and services.
• It results in an increase in the **real value** of the monetary unit.
• It is measured using **broad price indices**.

In monetary economics, the demand for money is the desired holding of financial assets in the form of money: that is, cash or bank deposits rather than investments.

• Involves holding assets as **cash** or **bank deposits**.
• A central concept within **monetary economics**.
• Can be measured using narrow definitions like **M1**.

Diego de Covarrubias y Leyva was a Spanish jurist and Roman Catholic prelate who served as Archbishop of Cuenca (1577-1577), Archbishop of Segovia (1564-1577), Archbishop of Ciudad Rodrigo (1560-1564), and Archbishop of Santo Domingo (1556-1560).

Digital currency is any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the internet.

• Managed and exchanged via **digital computer systems**.
• Includes **cryptocurrency** and **virtual currency**.
• May be issued as **central bank digital currency**.

The Diocese of Jaén is a Latin Church diocese of the Catholic Church in the city of Jaén in the ecclesiastical province of Granada in Spain.

• Operates as a **Latin Church** diocese.
• Located within the city of **Jaén**, **Spain**.
• Part of the **ecclesiastical province of Granada**.

Distributive justice concerns the socially just allocation of resources, goods and opportunities in a society.

• Focuses on the **fair allocation** of resources and opportunities.
• Prioritizes **outcomes** over procedural fairness.
• Rooted in the economic reality of **material scarcity**.

In theology, divine providence, or simply providence, is God's intervention in the universe.

• Divine providence is defined as **God's intervention** in the universe.
• **General providence** refers to the continuous upholding of the natural order.
• **Special providence** involves extraordinary interventions in human life.

Domingo Báñez was a Spanish Dominican and Scholastic theologian.

Domingo de Soto was a Spanish Dominican priest and Scholastic theologian and naturalist born in Segovia (Spain), and died in Salamanca (Spain), at the age of 66.

• Born in **Segovia**, Spain, in **1494**.
• Member of the **Dominican Order**.
• Key contributor to the **School of Salamanca**.

The Order of Preachers, commonly known as the Dominican Order, is a Catholic mendicant order of pontifical right that was founded in France by the Castilian priest Dominic de Guzmán.

• The order was founded by **Dominic de Guzmán**.
• It was officially approved by **Pope Honorius III** in **1216**.
• Members use the letters **OP** to signify their membership in the **Ordo Praedicatorum**.

The encomienda was a 16th-century Spanish labour system that rewarded Spain's conquistadors with the labour of conquered non-Christian peoples.

• System of **forced labor** for conquered peoples.
• Grant holders were known as **encomenderos**.
• Originated during the **Christian Reconquista**.

In monetary economics, the equation of exchange is the relation:

• The equation serves as a formal **mathematical identity** in monetary economics.
• It relates the **money supply** to the **price level** and the volume of economic transactions.
• It incorporates the **velocity of money** as a critical variable in the exchange process.

Ethics involves systematizing, defending, and recommending concepts of right and wrong behavior.

• Involves the **systematization** and defense of right and wrong.
• Focuses on the definition of **moral behavior**.
• Explores the concept of the **good life** as a central objective.

The Expulsion of the Moriscos was decreed by King Philip III of Spain on April 9, 1609.

• Decreed by **King Philip III of Spain** on **April 9, 1609**.
• Targeted the **Moriscos**, who were descendants of Spain's Muslim population forced to convert to Christianity.
• Motivated by concerns over **Morisco revolts** and **Ottoman** naval threats.

The Federal Reserve System is the central banking system of the United States.

• The Federal Reserve was created on **December 23, 1913**.
• The **Federal Reserve Act** provided the legal basis for the system.
• It is designed with **structural insulation** to remain independent from political influence.

Fiat money or fiat currency is a type of government-issued currency, generally created by a central bank, authorized by government regulation to be legal tender but not backed by a precious metal, such as gold or silver, nor by any other tangible asset or commodity.

• **Fiat money** is not backed by physical assets like **gold or silver**.
• It is authorized by government regulation to serve as **legal tender**.
• The **Jamaica Accords** of 1976 marked the end of the **Bretton Woods system**.

The Quinque viæ are five logical arguments for the existence of God summarized by the 13th-century Catholic philosopher and theologian Thomas Aquinas in his book Summa Theologica.

• Formulated by **Thomas Aquinas** in the 13th century.
• Published within the **Summa Theologica**.
• Includes the argument from the **first mover**.

Fractional-reserve banking is the system of banking under which banks that take deposits from the public keep only part of their deposit liabilities in liquid assets as a reserve, and lend a percentage to borrowers, thus increasing the money supply by the loaned amount.

• Banks keep only a **fraction** of deposit liabilities as liquid reserves.
• Lending out the remainder of deposits increases the total **money supply**.
• Reserves are held as **cash** or as balances at the **central bank**.

Francisco Sarmiento de Mendoza was a Spanish canon lawyer and bishop.

Francisco Suárez was a Spanish Jesuit priest, philosopher and theologian, one of the leading figures of the School of Salamanca movement.

• Member of the **Society of Jesus** and a leading light of the **School of Salamanca**.
• Facilitated the transition of **second scholasticism** from the **Renaissance** to the **Baroque** era.
• Authored influential works that shaped the thought of later philosophers like **Gottfried Wilhelm Leibniz** and **Hugo Grotius**.

Francisco de Vitoria, also known as Francisco de Victoria, was a Spanish Catholic philosopher, theologian, and jurist of Renaissance Spain.

• Vitoria lived from approximately **1483 to 1546**.
• He is credited as the founder of the **School of Salamanca**.
• His writings laid early foundations for **free-market economics**.

Francisco de Vitoria University is a private university located in Pozuelo de Alarcón, in the Community of Madrid, Spain.

• Located in **Pozuelo de Alarcón**, **Community of Madrid**.
• Operated by the **Legion of Christ**.
• Affiliated with the **Roman Catholic** faith.

Free will is generally understood as the capacity or ability of people to (a) choose between different possible courses of action, (b) exercise control over their actions in a way that is necessary for moral responsibility, or (c) be the ultimate source or originator of their actions.

• Free will involves the ability to choose between **different possible courses of action**.
• It is considered a necessary condition for **moral responsibility**.
• The concept includes the idea of being the **ultimate source** or originator of one's actions.

Freedom of movement, mobility rights, or the right to travel is a human rights concept encompassing the right of individuals to travel from place to place within the territory of a country, and to leave the country and return to it.

Friedrich August von Hayek was an Austrian economist and philosopher.

• Lived from **1899 to 1992**.
• Shared the **1974 Nobel Memorial Prize** with Gunnar Myrdal.
• Analyzed how **prices communicate information** in decentralized markets.

Friedrich von Wieser was an Austrian early economist of the Austrian School of economics.

• Member of the **Austrian School** of economics.
• Lived from **1851 to 1926**.
• Contributed to **marginal utility theory**.

Gabriel Vásquez, known as Bellomontanus, was a Spanish theologian, Jesuit priest, and scholastic philosopher.

• He was a **Spanish Jesuit** and scholastic philosopher known by the moniker **Bellomontanus**.
• He served as the primary academic antagonist to **Francisco Suárez**.
• His work frequently challenged established views on **natural law** and the **jus gentium**.

Gottfried Wilhelm Leibniz was a German polymath active as a mathematician, philosopher, scientist, and diplomat who is credited, alongside Isaac Newton, with the creation of calculus in addition to many other branches of mathematics, such as binary arithmetic and statistics.

• Co-inventor of **calculus** alongside **Isaac Newton**.
• Developed **binary arithmetic**, the precursor to modern digital logic.
• Active as a **mathematician**, **philosopher**, **scientist**, and **diplomat** during the late 17th and early 18th centuries.

Gramática de la lengua castellana is a book written by Antonio de Nebrija and published in 1492.

• Authored by **Antonio de Nebrija** in **1492**.
• First grammar book for a **modern European language**.
• First work dedicated to the rules of the **Spanish language**.

The Gregorian calendar is the calendar used in most parts of the world.

• Implemented in **October 1582**.
• Established by the papal bull **Inter gravissimas**.
• Introduced by **Pope Gregory XIII**.

Gregory of Valencia was a Spanish humanist and scholar who was a professor at the University of Ingolstadt.

Gross domestic product (GDP) is a monetary measure of the total market value of all of the final goods and services which are produced and rendered during a specific period of time by a country or countries.

• Measures the **total market value** of final goods and services.
• Composed of **consumption**, **government spending**, **net exports**, and **investment**.
• Does not account for **income distribution** or overall **standard of living**.

Hugo Grotius, also known as Hugo de Groot or Huig de Groot, was a Dutch humanist, diplomat, lawyer, theologian, jurist, statesman, poet and playwright.

• Born in **Delft** in **1583** and died in **1645**.
• Renowned as a **polymath** who excelled as a lawyer, theologian, poet, and playwright.
• Escaped from **Loevestein Castle** by hiding in a **chest of books**.

In economics, hyperinflation is a very high and typically accelerating inflation.

• Characterized by **rapidly accelerating inflation**.
• Causes the erosion of **real currency value**.
• Often leads to **currency substitution** or **dollarization**.

In economics, an implicit cost is the opportunity cost equal to what a firm must give up in order to use a factor of production for which it already owns and thus does not pay rent.

• Represents the **opportunity cost** of using owned assets.
• Contrasts with **explicit costs** that involve direct payments.
• Includes **foregone income** from alternative uses of resources.

In economics, inflation is an increase in the average price of goods and services in terms of money, though it originally referred to the increase of the money supply that can cause such a universal shift.

• Inflation represents a reduction in the **purchasing power of money**.
• It is measured by the **annualized percentage change** in a price index.
• The **consumer price index (CPI)** is the most common tool for tracking inflation.

In finance and economics, interest is payment from a debtor or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum, at a particular rate.

• Payment made for the use of a **principal sum**.
• Calculated based on a **particular rate** decided beforehand.
• Distinct from a **fee** paid to a lender or third party.

Irving Fisher was an American economist, statistician, inventor, eugenicist and progressive social campaigner.

• Irving Fisher lived from **1867 to 1947**.
• He was a pioneer among **American neoclassical economists**.
• His work on **debt deflation** is a key contribution to modern economic theory.

Isabella I, also known as Isabella the Catholic, was Queen of Castile and León from 1474 until her death in 1504.

• Reigned as **Queen of Castile and León** from **1474** to **1504**.
• Served as **Queen of Aragon** from **1479** to **1504**.
• Known as one of the **Catholic Monarchs** alongside **Ferdinand II**.

Jacques Maritain was a French Catholic philosopher and theologian.

• Lived from **1882 to 1973** in **France**.
• Authored more than **60 books** on philosophy and theology.
• Key figure in the modern revival of **Thomism**.

The Society of Jesus, also known as the Jesuit Order or the Jesuits, is a religious order of clerics regular of pontifical right for men in the Catholic Church.

• Founded in **1540** by **Ignatius of Loyola**.
• Approved by **Pope Paul III**.
• Headquartered in **Rome**.

John Maynard Keynes, 1st Baron Keynes, was an English economist whose writings are considered the basis for the school of thought known as Keynesian economics, as well as its various offshoots.

• Lived from **1883 to 1946**.
• Known as the **father of macroeconomics**.
• Authored the basis for **Keynesian economics**.

Juan Ginés de Sepúlveda was a Spanish humanist, philosopher, and theologian of the Spanish Renaissance.

• Participated in the **Valladolid debate** (1550–1551).
• Influenced by **Aristotle** and **Saint Thomas Aquinas**.
• Argued for the **cultural superiority** of the Spanish.

Juan de Mariana was a Spanish Jesuit priest, Scholastic, historian, and member of the Monarchomachs.

• Born in **1536**, **Juan de Mariana** was a member of the **Society of Jesus**.
• He is recognized as a key **Scholastic** philosopher and **historian**.
• His political writings were associated with the **Monarchomach** movement.

Juan de Medina (1490–1547) was a Spanish theologian and Spain's ambassador to Rome.

Juan de Ribera was an influential figure during the reign of Philip III of Spain.

The just price is a theory of ethics in economics that attempts to set standards of fairness in transactions.

• Rooted in **ancient Greek philosophy**.
• Promoted by **St. Thomas Aquinas** to address economic ethics.
• Formulated as a moral opposition to **usury**.

The just war theory is a doctrine, also referred to as a tradition, of military ethics that aims to ensure that a war is morally justifiable through a series of criteria, all of which must be met for a war to be considered just.

• The theory is divided into **jus ad bellum** and **jus in bello**.
• It serves as a framework for evaluating the **morality of war**.
• The doctrine requires that justice be the primary objective of **armed conflict**.

Karl Marx was a German philosopher, social and political theorist, economist, and revolutionary socialist.

• Developed the theory of **historical materialism**.
• Co-authored **The Communist Manifesto** in **1848**.
• Wrote the critique of political economy titled **Das Kapital**.

Keynesian economics are the various macroeconomic theories and models of how aggregate demand strongly influences economic output and inflation.

• Keynesian economics focuses on the influence of **aggregate demand** on economic output.
• It posits that **aggregate demand** does not inherently match the **productive capacity** of an economy.
• The theory identifies **employment**, production, and inflation as key variables affected by demand.

The Kingdom of Navarre, originally the Kingdom of Pamplona, was a historical Iberian polity which occupied lands on both sides of the western Pyrenees, with its northernmost areas originally reaching the Atlantic Ocean, between present-day Spain and France.

• Originally established as the **Kingdom of Pamplona**.
• Located in the **western Pyrenees** between modern **Spain** and **France**.
• Historically occupied lands on both sides of the **Pyrenees mountain range**.

The labor theory of value (LTV) posits that the economic value of a good or service is determined by the socially necessary labor time required to produce it under prevailing conditions.

• Value is defined by **socially necessary labor time**.
• Used by **Adam Smith** and **David Ricardo** to explain **natural prices**.
• Central to **Marxian economics** for analyzing **capitalist social dynamics**.

Lenaert Leys, better known as Leonardus Lessius was a Brabant jurist, theologian, economist from the Jesuit order.

In macroeconomic theory, liquidity preference is the demand for money, considered as liquidity.

• Introduced by **John Maynard Keynes** in **1936**.
• Explains the determination of **interest rates** through money supply and demand.
• Refines **Silvio Gesell's** theory regarding the **store of value** function.

Loci Theologici was a term applied by Melanchthon to Protestant systems of dogmatics and retained by many as late as the seventeenth century.

• The term **Loci theologici** translates to theological places or sources.
• **Philipp Melanchthon** utilized this framework to structure Protestant dogmatic systems.
• **Melchor Cano** adapted the concept to categorize the hierarchy of sources in **Catholic theology**.

Ludwig Heinrich Edler von Mises was an Austrian and American political economist and philosopher of the Austrian school.

• Lived from **1881 to 1973**.
• Advanced the study of **praxeology** as a scientific method for economics.
• Defended **classical liberalism** against 20th-century authoritarianism.

Luis de León, was a Spanish lyric poet, Augustinian friar, theologian and academic.

Luis de Molina was a Spanish Jesuit priest, jurist, economist and theologian renowned for his contributions to philosophy and economics within the framework of the second scholasticism.

• Lived from **1535** to **1600** in Spain.
• Key figure in the **second scholasticism** movement.
• Contributed extensively to **theology**, **jurisprudence**, and **economics**.

Marginalism is a theory of economics that attempts to explain the discrepancy in the value of goods and services by reference to their secondary, or marginal, utility.

• Determines value based on **marginal utility** rather than total utility.
• Explains the **paradox of value** regarding prices of goods.
• Focuses on the **additional satisfaction** gained from the last unit consumed.

Martín de Azpilcueta, or Doctor Navarrus, was a Navarrese canonist, theologian and economist.

• Lived from **1492** to **1586** in the **Kingdom of Navarre**.
• Associated with the **School of Salamanca**, a group of influential **Spanish** scholars.
• Known by the academic title **Doctor Navarrus**.

Medina de Rioseco is a municipality located in the province of Valladolid, in the autonomous community of Castile and León and Spain.

• Located in the province of **Valladolid**.
• Part of the autonomous community of **Castile and León**.
• Recorded a population of **4,967** in the **2011 INE census**.

Melchor Cano was a Spanish Scholastic theologian.

Mercantilism is a form of economic system and nationalist economic policy that is designed to maximize the exports and minimize the imports of an economy.

• **Mercantilism** is a nationalist economic policy.
• The system aims to maximize **exports** and minimize **imports**.
• It focuses on the accumulation of **resources** within a country.

Metaphysics is one of the principal works of Aristotle, in which he develops the doctrine that he calls First Philosophy.

• Authored by **Aristotle** as a core component of his **First Philosophy**.
• Explores the nature of **substance theory** and **causation**.
• Analyzes the relationship between **form and matter**.

In the social sciences, methodological individualism is a method for explaining social phenomena strictly in terms of the decisions of individuals, each being moved by their own personal motivations.

• Explains social phenomena through **individual subjective motivations**.
• Rejects the idea that **groups or classes** act as independent causal agents.
• Utilizes a **bottom-up micro-level approach** to analysis.

Milton Friedman was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy.

• Milton Friedman lived from **1912 to 2006**.
• He received the **Nobel Memorial Prize in Economic Sciences** in 1976.
• He was a primary intellectual leader of the **Chicago school of economics**.

Molinism, named after 16th-century Spanish Jesuit theologian Luis de Molina, is the thesis that God has middle knowledge : the knowledge of counterfactuals, particularly counterfactuals regarding human action.

• Molinism is named after the **16th-century** Spanish Jesuit **Luis de Molina**.
• The central mechanism is **middle knowledge**, or the knowledge of **counterfactuals** regarding human action.
• It aims to reconcile the tension between **divine providence** and **human free will**.

The Monarchomachs were originally French Huguenot theorists who opposed monarchy at the end of the 16th century, known in particular for having theoretically justified tyrannicide.

• The term was coined by **William Barclay** in **1600**.
• The name is derived from the Greek words **mónarchos** and **máchomai**.
• The group was primarily composed of **French Huguenot** theorists.

Monetarism is a school of thought in monetary economics that emphasizes the role of policy-makers in controlling the amount of money in circulation.

• Monetarism emphasizes the **money supply** as the main driver of economic performance.
• The school of thought rose to prominence during the **1970s**.
• It was largely superseded by **inflation targeting** frameworks in the **1980s**.

Monetary economics is the branch of economics that studies the nature, role, and impact of money and monetary institutions.

• Defines money as a **medium of exchange**, **store of value**, and **unit of account**.
• Analyzes the impact of **monetary institutions** on the broader economy.
• Investigates the conditions required for money to achieve **widespread acceptance**.

Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability.

• Monetary policy aims to achieve **price stability** and **high employment**.
• Developed nations frequently employ an **inflation targeting** framework.
• Developing countries often favor a **fixed exchange rate system**.

In monetary economics, the money multiplier is the ratio of the money supply to the monetary base.

• The **money multiplier** is the ratio of the **money supply** to the **monetary base**.
• It is often simplified as the **reciprocal of the reserve ratio**.
• The multiplier is influenced by **household preferences** and bank policies.

In macroeconomics, money supply refers to the total volume of money held by the public at a particular point in time.

• The **money supply** includes currency in circulation and **demand deposits**.
• Data is typically recorded and published by a **central bank** or national statistical agency.
• Measures are categorized into tiers like **M1, M2, and M3** based on asset liquidity.

Murray Newton Rothbard was an American economist of the Austrian School, economic historian, political theorist, and activist.

• Member of the **Austrian School** of economics.
• Lived from **1926 to 1995**.
• Founding theoretician of **anarcho-capitalism**.

Mysticism encompasses religious traditions of human transformation aided by various practices and religious experiences.

• Focuses on **human transformation** through practice.
• Often involves an **ecstatic unitive experience**.
• Seeks direct union with **God** or the **Absolute**.

Natural law is a philosophical and legal theory that posits the existence of inherent laws derived from nature and universal moral principles that are discoverable through reason.

• It posits that laws are derived from **nature** and **universal moral principles**.
• The theory is discoverable through the use of human **reason**.
• It is also known as **iusnaturalism** or **jusnaturalism**.

Neo-scholasticism, also known as neo-scholastic Thomism, or neo-Thomism because of the great influence of the writings of Thomas Aquinas on the movement, is a revival and development of medieval scholasticism in Catholic theology and scholastic philosophy, which began in the second half of the 19th century.

• Revived **medieval scholasticism** starting in the late **19th century**.
• Heavily influenced by the writings of **Thomas Aquinas**.
• Also known as **neo-Thomism** due to its focus on Thomistic thought.

Neutrality of money is the idea that a change in the money supply affects only nominal variables in the economy such as prices, wages, and exchange rates, with no effect on real variables, like employment, real GDP, and real consumption.

• Money is considered neutral when it only affects **nominal variables**.
• It posits that **real variables** like employment and GDP remain unaffected by money supply changes.
• The concept is closely linked to the **classical dichotomy** in economic theory.

The New Laws, also known as the New Laws of the Indies for the Good Treatment and Preservation of the Indians, were issued on November 20, 1542, by Charles V, Holy Roman Emperor and regard the Spanish colonization of the Americas.

• Issued on **November 20, 1542**.
• Promulgated by **Charles V, Holy Roman Emperor**.
• Designed to limit the power of **encomenderos**.

New Spain, officially the Viceroyalty of New Spain, originally the Kingdom of New Spain, was an integral territorial entity of the Spanish Empire, established by Habsburg Spain.

• Existed as a formal entity from **1521** until **1821**.
• Governed from the capital city of **Mexico City**.
• Included diverse territories such as **California**, **Florida**, **Louisiana**, and **Spanish Formosa**.

In macroeconomics, an open market operation (OMO) is an activity by a central bank to exchange liquidity in its currency with a bank or a group of banks.

• **Open market operations** are used by central banks to exchange liquidity with commercial banks.
• Transactions often involve the trading of **government bonds** and financial assets.
• **Repurchase agreements** are a common method for conducting these operations.

In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives.

The Order of Saint Augustine, abbreviated OSA, is a mendicant religious order of the Catholic Church.

• Founded in **1244**.
• Based on the **Rule of Saint Augustine**.
• Originated from eremitical groups in **Tuscany**.

Patriarch of Antioch is a traditional title held by the bishop of Antioch.

• Traditional title held by the **bishop of Antioch**.
• Associated with the first **gentile Christian community** in early history.
• One of the few dioceses with a preserved list of bishops dating back to the **apostolic era**.

Pedro da Fonseca was a Portuguese Jesuit philosopher and theologian.

Pedro de Valencia was a Spanish humanist, biblical scholar, chronicler and literary critic.

Peter of Hispania was the author of the Tractatus, later known as the Summulae Logicales, an important medieval university textbook on Aristotelian logic.

• He authored the **Tractatus**, a seminal textbook on **Aristotelian logic**.
• The work is also widely known by its later title, the **Summulae Logicales**.
• He is traditionally identified with **Peter Juliani**, who became **Pope John XXI** in **1276**.

Philip II, sometimes known in Spain as Philip the Prudent, was King of Spain from 1556, King of Portugal from 1580, and King of Naples and Sicily from 1554 until his death in 1598.

• Reigned as **King of Spain** from **1556** until his death in **1598**.
• Acquired the throne of the **Kingdom of Portugal** in **1580**.
• Served as **King of Naples and Sicily** beginning in **1554**.

Philip III was King of Spain and Portugal during the period known as the Iberian Union, reigning from 1598 until his death in 1621.

• Reigned as King of Spain and Portugal from **1598 to 1621**.
• Member of the **House of Habsburg** dynasty.
• Born in **Madrid** to **Philip II** and **Anna of Austria**.

Physiocracy is an economic theory developed by a group of 18th-century Age of Enlightenment French economists.

• Developed by **French economists** in the **18th century**.
• Posited that **land agriculture** is the sole source of national wealth.
• Advocated for the high valuation of **agricultural products**.

Potosí, known as Villa Imperial de Potosí in the colonial period, is the capital city and a municipality of the Department of Potosí in Bolivia.

• **Potosí** is located in the **Department of Potosí**, **Bolivia**.
• The city sits at an elevation of **4,067 meters** (**13,343 feet**).
• The **Cerro Rico** mountain was discovered in **1545**.

In philosophy, praxeology is the theory of human action, based on the notion that humans engage in purposeful behavior, contrary to reflexive behavior and other unintentional behavior.

• Defined as the **theory of human action**.
• Distinguishes between **purposeful behavior** and reflexive actions.
• Serves as the **epistemological foundation** for the Austrian school.

The Price Revolution, sometimes known as the Spanish Price Revolution, was a series of economic events that occurred in the second half of the 16th century, and most specifically linked to the high rate of inflation that occurred during this period across Western Europe.

• The **Price Revolution** occurred primarily during the **16th century**.
• Average prices increased roughly **sixfold** over a period of **150 years**.
• The annual compounded inflation rate was approximately **1.2%**.

Prices of production is a concept in Karl Marx's critique of political economy, defined as "cost-price + average profit".

• Defined as **cost-price** plus **average profit**.
• Functions as a **supply price** for goods and services.
• Ensures a **normal profit rate** on invested capital.

In theology and philosophy, probabilism is an ancient Greek doctrine of academic skepticism.

• Rooted in **ancient Greek academic skepticism**.
• Prioritizes **plausibility** or **truth-likeness** over absolute certainty.
• Applied as a **17th-century religious thesis** regarding ethics.

In microeconomics, a production–possibility frontier (PPF), production-possibility curve (PPC), or production-possibility boundary (PPB) is a graphical representation showing all the possible quantities of outputs that can be produced using all factors of production, where the given resources are fully and efficiently utilized per unit time.

• Visualizes the **maximum output combinations** of two goods.
• Assumes **full and efficient utilization** of resources.
• Represents the concept of **productive efficiency**.

In economics, a public good is a commodity, product or service that is both non-excludable and non-rivalrous and which is typically provided by a government and paid for through taxation.

• Defined as being both **non-excludable** and **non-rivalrous**.
• Typically funded by **taxation** and provided by the state.
• Allows for **simultaneous use** by multiple individuals.

The quantity theory of money (QTM) is a hypothesis within monetary economics which states that the general price level of goods and services is directly proportional to the amount of money in circulation, and that the causality runs from money to prices.

• The theory asserts that the **general price level** is directly proportional to the **money supply**.
• It identifies the **causality** as running from the amount of money in circulation to the level of prices.
• The theory is considered the **oldest surviving theory** in the history of economic thought.

The Ratio atque Institutio Studiorum Societatis Iesu, often abbreviated as Ratio Studiorum, was a document that standardized the globally influential system of Jesuit education in 1599.

• Formally established and standardized in **1599**.
• Full title is the **Ratio atque Institutio Studiorum Societatis Iesu**.
• Created a uniform system of **Jesuit education** on a global scale.

The Real Colegio Seminario del Corpus Christi is a former Roman Catholic school and seminary founded in 1583 in the Spanish city of Valencia.

• Founded in **1583** in the city of **Valencia**.
• Functions as a **Roman Catholic school and seminary**.
• Located on **calle de la Nau** in the historic center of the city.

Renaissance humanism is a worldview centered on the nature and importance of humanity that emerged from the study of classical antiquity.

• The movement is centered on the study and revival of **classical antiquity**.
• It emphasizes the inherent value and importance of **humanity**.
• It promoted the study of **Greek and Roman literature**, philosophy, and history.

Rodrigo de Arriaga was a Spanish philosopher, Jesuit priest, and theologian.

The Royal and Pontifical University of Mexico was a university founded on 21 September 1551 by Royal Decree signed by Charles I of Spain, in Valladolid, Spain.

• Founded on **21 September 1551** via **Royal Decree**.
• Established by **Charles I of Spain** in **Valladolid**.
• Recognized as one of the **first universities** in **North America**.

In economics, scarcity refers to the basic fact of life that there exists only a finite amount of human and nonhuman resources which the best technical knowledge is capable of using to produce only limited maximum amounts of each economic good.

• Refers to the **finite nature** of human and nonhuman resources.
• Distinguishes between **economic goods** and abundant, non-scarce items.
• Defined by **Léon Walras** as things that are useful and limited.

Scholasticism is a medieval European philosophical movement or methodology that was the predominant education in Europe from about 1100 to 1700.

• Prevailed as the primary **educational methodology** in Europe from **1100 to 1700**.
• Employs **logically precise analysis** to resolve complex questions.
• Focuses on reconciling **classical philosophy** with **Catholic Christianity**.

The School of Salamanca was an intellectual movement of 16th- and 17th-century Spanish Scholastic theologians rooted in the intellectual and pedagogical work of Francisco de Vitoria.

Second scholasticism, also called Modern scholasticism, is the period of revival of scholastic system of philosophy and theology, in the 16th and 17th centuries.

• The movement flourished during the **16th and 17th centuries** as a revival of traditional scholastic methods.
• It is distinguished by its **analytical complexity** and a significant increase in the volume of academic literature.
• Proponents applied a more developed sense of **historical and literary criticism** to their theological and philosophical texts.

Simon Newcomb was a Canadian–American astronomer, applied mathematician, and autodidactic polymath.

• Lived from **1835 to 1909**.
• Served as a **Professor of Mathematics** for the **United States Navy**.
• Held an academic position at **Johns Hopkins University**.

In moral and political philosophy, the social contract is an idea, theory, or model that usually, although not always, concerns the legitimacy of the authority of the state over the individual.

• Addresses the **legitimacy of state authority**.
• Conceptualized during the **Age of Enlightenment**.
• Serves as a core pillar of **constitutionalism**.

The Song of Songs, also called the Canticle of Canticles or the Song of Solomon, is a biblical poem, one of the five megillot ("scrolls") in the Ketuvim ("writings"), the last section of the Tanakh.

• One of the five **megillot** or scrolls.
• Features **erotic poetry** and sensual dialogue.
• Part of the **Ketuvim** section of the Tanakh.

The Spanish Empire, sometimes referred to as the Hispanic Monarchy or the Catholic Monarchy, was a colonial empire that existed between 1492 and 1976.

• Existed as a global colonial power from **1492** to **1976**.
• Reached a maximum territorial extent of **13.7 million square kilometres**.
• Included vast holdings in the **Americas**, **Africa**, **Asia**, and **Oceania**.

The Spanish Golden Age was a period of intense artistic, literary, and intellectual flourishing in Spain that broadly coincided with the political rise of the Spanish monarchy under the Catholic Monarchs of Spain and the Spanish Habsburgs.

• Coincided with the rise of the **Spanish monarchy**.
• Associated with the reigns of **Isabella I** and **Ferdinand II**.
• Included the rule of the **Spanish Habsburgs**.

The Tribunal of the Holy Office of the Inquisition was authorized by Pope Sixtus IV in 1478 and the first inquisitors, Miguel de Morillo and Juan de San Martín, were appointed by the future Catholic Monarchs, King Ferdinand II of Aragon and Queen Isabella I of Castile, in 1480.

• The **Spanish Inquisition** was authorized by **Pope Sixtus IV** in **1478**.
• The first inquisitors were **Miguel de Morillo** and **Juan de San Martín**.
• The institution was established by **King Ferdinand II** and **Queen Isabella I** in **1480**.

The Spanish Requirement of 1513 (Requerimiento) was a declaration by the Spanish monarchy of Castile's divinely ordained right to take possession of the territories of the New World and to subjugate, exploit and, when necessary, to fight the native inhabitants.

• Issued in **1513** as a formal declaration of sovereignty.
• Authored by the jurist **Juan López de Palacios Rubios**.
• Issued on behalf of **Ferdinand II of Aragon** and **Joanna of Castile**.

The Spanish colonization of the Americas began in 1493 on the Caribbean island of Hispaniola after the initial 1492 voyage of Genoese mariner Christopher Columbus under license from Queen Isabella I of Castile.

• Commenced in **1493** on the island of **Hispaniola**.
• Initiated under the authority of **Queen Isabella I of Castile**.
• Lasted until the final territories were lost in **1898**.

The Spanish treasure fleet, or West Indies Fleet, was a convoy system of sea routes organized by the Spanish Empire from 1566 to 1790, which linked Spain with its territories in the Americas across the Atlantic.

• The **Spanish treasure fleet** operated between **1566 and 1790**.
• The system connected the **Spanish Empire** with its territories in the **Americas**.
• Cargo included precious metals such as **silver and gold**.

The subjective theory of value (STV) is an economic theory for explaining how the value of goods and services are not only established but also how they can fluctuate over time.

• Proposed by Austrian scholar **Carl Menger**.
• Asserts that value is determined by **individual preferences**.
• Explains the **fluctuation of prices** over time.

Sublimis Deus is a Papal bull promulgated by Pope Paul III on 2 June 1537, which forbids the enslavement of the Indigenous peoples of the Americas and all other Indigenous people who could be discovered later or previously known.

• Promulgated by **Pope Paul III** on **2 June 1537**.
• The bull explicitly forbids the **enslavement** of **Indigenous peoples**.
• It declares that indigenous populations are **fully rational human beings**.

Subsidiarity is an organizing principle that matters ought to be handled at multiple levels of organization and not just by a centralized authority.

• Advocates for decision-making at the **local level**.
• Limits the role of **centralized authority**.
• Functions as a principle of **organizational efficiency**.

The Summa Theologiae or Summa Theologica, often referred to simply as the Summa, is the best-known work of Thomas Aquinas (1225–1274), a scholastic theologian and Doctor of the Church.

• Authored by **Thomas Aquinas** during the 13th century.
• Acts as a comprehensive **compendium** of **Catholic theological** teachings.
• Organized around a cycle covering **God**, **Creation**, **Man**, **Christ**, and the **Sacraments**.

In economics and business decision-making, a sunk cost is a cost that has already been incurred and cannot be recovered.

• Defined as an **unrecoverable cost** already incurred.
• Contrasts with **prospective costs** that are avoidable.
• Considered irrelevant to **rational future decision-making**.

Teresa of Ávila, religious name Teresa of Jesus, was a Carmelite nun, prominent Spanish mystic and spiritual reformer.

• Lived from **1515** to **1582**.
• Member of the **Carmelite Order**.
• Renowned for her work as a **spiritual reformer**.

The Thirty Years' War, fought primarily in Central Europe between 1618 and 1648, was one of the most destructive conflicts in European history.

• Fought in **Central Europe** from **1618** to **1648**.
• Resulted in **4.5 to 8 million** deaths among soldiers and civilians.
• Caused population declines of over **50%** in parts of **Germany**.

Thomas Aquinas was an Italian Dominican friar and priest, theologian, and philosopher.

• He was an **Italian Dominican** friar and a central figure in medieval intellectual history.
• He lived during the **13th century**, specifically from **1225 to 1274**.
• He is the founder of the philosophical and theological school known as **Thomism**.

Thomism is the philosophical and theological school which arose as a legacy of the work and thought of Thomas Aquinas (1225–1274), a Dominican philosopher, theologian, and Doctor of the Church.

• Originates from the life and work of **Thomas Aquinas** (1225–1274).
• Functions as a major school of **Catholic theology** and **scholastic philosophy**.
• Integrates **Aristotelian philosophy** with **Christian doctrine**.

Tomás de Mercado (1525–1575) was a Spanish Dominican friar and both an economist and a theologian, best known for his book Summa de Tratos y Contratos of 1571.

The Treaty of Tordesillas, signed in Tordesillas, Spain, on 7 June 1494, and ratified in Setúbal, Portugal, divided the newly discovered lands outside Europe between the Kingdom of Portugal and the Crown of Castile, along a meridian 370 leagues west of the Cape Verde islands, off the west coast of Africa.

• Signed on **7 June 1494** in **Tordesillas**.
• Ratified in **Setúbal**, **Portugal**.
• Established a boundary **370 leagues** west of the **Cape Verde islands**.

Tyrannicide or tyrannomachia is the killing or assassination of a tyrant or unjust ruler.

• **Tyrannicide** is the intentional killing of a **tyrant** or an unjust ruler.
• The practice was heavily encouraged in the political culture of **Classical Greece**.
• The assassination of **Clearchus of Heraclea** in **353 BC** serves as a notable historical instance.

The University of Alcalá, also known as Complutense University or Cisnerian University, was a university located in Alcalá de Henares, Spain, from its founding by Cardinal Cisneros in 1499 until its relocation to Madrid in 1836.

• The university was founded in **1499** by **Cardinal Cisneros**.
• It was located in **Alcalá de Henares** for over three centuries.
• In **1777**, the institution was renamed the **Royal University of Alcalá**.

The University of Coimbra (UC) is a public research university in Coimbra, Portugal.

• Chartered by **King Denis** on **1 March 1290**.
• Recognized by **Pope Nicholas IV** in **1290**.
• Relocated permanently to **Coimbra** in **1537**.

The University of Ingolstadt was a private university in the city of Ingolstadt in Bavaria, Germany.

• The university was founded in **1472** by **Louis the Rich**.
• It was structured around four faculties: **theology**, **law**, **artes liberales**, and **medicine**.
• The institution was modeled after the **University of Vienna**.

The University of Salamanca is a public research university in Salamanca, Spain.

• Founded in **1218** by **King Alfonso IX**.
• Oldest university in the **Hispanic world**.
• Fourth oldest university in the world in **continuous operation**.

Usury is the practice of making loans that are seen as unfairly enriching the lender.

• Defined as the practice of charging **excessive or abusive interest rates** on loans.
• Regulated by **legal statutes** that establish a maximum allowable interest rate.
• Often carries a **moral condemnation** for exploiting the misfortunes of others.

Utilitarianism is a family of theories in normative ethics that prescribe actions that maximize happiness and well-being for the affected individuals.

• Prescribes actions that **maximize happiness** and well-being.
• Founded by the philosopher **Jeremy Bentham**.
• Evaluates morality based on the **greatest good** for the greatest number.

The Valladolid debate was the first public debate in European history to discuss the morality, rights and treatment of Indigenous people by European colonizers.

• First public debate on **Indigenous rights** in Europe.
• Held at the **Colegio de San Gregorio** in **Valladolid**.
• Addressed the moral legitimacy of the **conquest of the Americas**.

The velocity of money measures the number of times that one unit of currency is used to purchase goods and services within a given time period.

• Measures the **frequency of circulation** for a single unit of currency.
• Calculated as the ratio of **nominal GNP** to the **money supply**.
• Serves as a key determinant in the analysis of **inflationary trends**.

• School of Salamanca ↔ Francisco de Vitoria: Founding intellectual figure and primary pedagogical influence

• School of Salamanca ↔ Thomism: Philosophical and theological foundation of the movement

• School of Salamanca ↔ Just war theory: Legal framework developed by the school

• School of Salamanca ↔ Dominican Order: Institutional home and academic environment

• School of Salamanca ↔ University of Salamanca: Primary academic institution of the movement

• School of Salamanca ↔ Martín de Azpilcueta: Key contributor to monetary theory

• School of Salamanca ↔ Luis de Molina: Theologian and contributor to economic thought

• School of Salamanca ↔ Conimbricenses: intellectual successor and contemporary Jesuit counterpart

• School of Salamanca ↔ Sublimis Deus: papal bull influenced by the School's human rights discourse

• School of Salamanca ↔ Quantity theory of money: economic theory pioneered by School members

• School of Salamanca ↔ Second scholasticism: broader historical and philosophical movement

• School of Salamanca ↔ Domingo de Soto: key theologian and contributor to the School's methodology

• School of Salamanca ↔ Natural law: central philosophical concept of the School's legal theory

• Quantity theory of money ↔ Martín de Azpilcueta: early contributor to the theory

• Quantity theory of money ↔ Equation of exchange: mathematical expression of the quantity theory

• Quantity theory of money ↔ Monetarism: modern school of thought based on the theory

• Quantity theory of money ↔ Irving Fisher: popularizer of the theory in the 20th century

• Quantity theory of money ↔ Milton Friedman: reviver of the theory in modern economics

• Quantity theory of money ↔ Velocity of money: key variable in the quantity theory

• Quantity theory of money ↔ Neutrality of money: theoretical implication of the quantity theory

• Quantity theory of money ↔ Chicago school of economics: institutional home of the theory's revival

• Quantity theory of money ↔ Inflation: phenomenon explained by the quantity theory

• Domingo de Soto ↔ Francisco de Vitoria: mentor and intellectual predecessor

• Domingo de Soto ↔ Quantity theory of money: early developer of the theory

• Domingo de Soto ↔ University of Salamanca: academic home and teaching institution

• Domingo de Soto ↔ Dominican Order: religious order affiliation

• Domingo de Soto ↔ Natural law: primary subject of philosophical inquiry

• Domingo de Soto ↔ Council of Trent: theological participant and advisor

• Domingo de Soto ↔ Charles V, Holy Roman Emperor: imperial confessor and advisor

• Domingo de Soto ↔ Valladolid debate: intellectual context for human rights

• Domingo de Soto ↔ Aristotelianism: philosophical foundation

• Domingo de Soto ↔ Price revolution: economic phenomenon analyzed

• Luis de Molina ↔ Price revolution: economic context for Luis de Molina's writings

• Luis de Molina ↔ Martín de Azpilcueta: predecessor in the School of Salamanca

• Luis de Molina ↔ Dominican Order: theological rival to Luis de Molina's Jesuit order

• Luis de Molina ↔ Second scholasticism: intellectual movement that shaped Luis de Molina

• Luis de Molina ↔ Molinism: theological system developed by Luis de Molina

• Luis de Molina ↔ Jesuits: religious order to which Luis de Molina belonged

• Luis de Molina ↔ Congregatio de Auxiliis: theological controversy involving Luis de Molina

• Luis de Molina ↔ Subjective theory of value: economic concept anticipated by Luis de Molina

• Luis de Molina ↔ University of Coimbra: academic institution where Luis de Molina taught

• Velocity of money ↔ Equation of exchange: mathematical definition of velocity

• Velocity of money ↔ Irving Fisher: formalizer of the velocity concept

• Velocity of money ↔ Monetarism: school of thought emphasizing stable velocity

• Velocity of money ↔ Inflation: consequence of velocity changes

• Velocity of money ↔ Milton Friedman: proponent of the stability of velocity

• Velocity of money ↔ Money supply: component of the equation of exchange

• Velocity of money ↔ Gross domestic product: denominator in velocity calculations

• Velocity of money ↔ Simon Newcomb: early contributor to the concept of velocity

• Velocity of money ↔ Liquidity preference: determinant of money demand and velocity

• Velocity of money ↔ John Maynard Keynes: critic of the stability of velocity

• Velocity of money ↔ Demand for money: functional driver of money velocity

• Velocity of money ↔ Digital currency: modern factor affecting money velocity

• Velocity of money ↔ Hyperinflation: extreme case of velocity acceleration

• Monetarism ↔ Milton Friedman: leading intellectual figure and primary proponent of monetarism

• Monetarism ↔ Chicago school of economics: academic home and institutional base for the development of monetarism

• Monetarism ↔ Inflation: central economic problem addressed by monetarist policy

• Monetarism ↔ Equation of exchange: mathematical identity used to formalize the quantity theory of money

• Monetarism ↔ Keynesian economics: primary intellectual rival and target of monetarist critique

• Monetarism ↔ Monetary policy: core mechanism of economic control advocated by monetarists

• Monetarism ↔ Central bank: institutional actor responsible for implementing monetarist policy reco...

• Monetarism ↔ Federal Reserve: primary institution criticized by monetarists for its historical policy...

• Molinism ↔ Congregatio de Auxiliis: Formal ecclesiastical debate regarding Molinism

• Molinism ↔ Jesuits: Religious order that championed Molinism

• Molinism ↔ Dominican Order: Religious order that opposed Molinism

• Molinism ↔ Thomism: Theological tradition challenged by Molinism

• Molinism ↔ Free will: Theological capacity preserved by Molinist theory

• Molinism ↔ Counterfactual conditional: Logical basis for Molinist middle knowledge

• Molinism ↔ Counter-Reformation: Historical context for the Molinist controversy

• Molinism ↔ Divine providence: Theological framework for God's governance

• Thomism ↔ Second scholasticism: historical period of Thomistic renewal

• Thomism ↔ Natural law: central ethical framework within Thomism

• Thomism ↔ Aristotelianism: philosophical foundation for Thomistic metaphysics

• Thomism ↔ Dominican Order: institutional home and primary proponents of Thomism

• Thomism ↔ Summa Theologica: primary foundational text of Thomistic thought

• Thomism ↔ Neo-scholasticism: modern revival and adaptation of Thomism

• Thomism ↔ Aeterni Patris: papal encyclical mandating the study of Thomism

• Thomism ↔ Scholasticism: broader intellectual tradition containing Thomism

• Thomism ↔ Five Ways (Aquinas): canonical arguments for God's existence in Thomism

• Thomism ↔ Jacques Maritain: influential 20th-century proponent of Thomism

• Second scholasticism ↔ Aristotelianism: Philosophical foundation

• Second scholasticism ↔ Molinism: Theological product of the movement

• Second scholasticism ↔ Counter-Reformation: Historical context of the revival

• Second scholasticism ↔ Free will: Central subject of inquiry

• Second scholasticism ↔ Jesuits: Institutional driver of the revival

• Second scholasticism ↔ Francisco Suárez: Key figure of the Second Scholasticism

• Second scholasticism ↔ Gabriel Vásquez: Prominent representative of the Second Scholasticism

• Second scholasticism ↔ Peter of Spain: Historical influence on scholastic logic

• Second scholasticism ↔ Thomas Aquinas: Primary intellectual source for the revival

• Second scholasticism ↔ Renaissance humanism: Intellectual context of the revival

• Martín de Azpilcueta ↔ Domingo de Soto: contemporary scholar and peer

• Martín de Azpilcueta ↔ Price revolution: historical context for economic theories

• Martín de Azpilcueta ↔ Council of Trent: ecclesiastical event influenced by his work

• Martín de Azpilcueta ↔ Scholasticism: intellectual framework for his economic thought

• Martín de Azpilcueta ↔ Usury: theological and legal subject of analysis

• Martín de Azpilcueta ↔ Canon law: primary professional field of study

• Martín de Azpilcueta ↔ Kingdom of Navarre: geographic and cultural origin

• Price revolution ↔ School of Salamanca: intellectual center for early monetary theory

• Price revolution ↔ Quantity theory of money: theoretical framework explaining the event

• Price revolution ↔ Inflation: the core economic phenomenon described