Lehrbuch Der NationalÖkonomie / Teaching Guide to Economics: Volume V/Book 1: General Economics III

Pesch explores the exchange process which involves an analysis of value and pricing process for goods. Central to Pesch's solidaristic system is the concept of the just price. He does not accept the concept that the market, when left to its own resources, determines the price. Instead Pesch introduces new modern economic thinking that constitutes how prices should be determined based on a moral basis. He discusses stages in the economic process: exchange and income determination and deals with money and the banking system, foreign exchange, and entrepreneurial income.


This is the first English translation of the works of Heinrich Pesch, SJ (1854-1926). Pesch, a German Jesuit scholar and economist, wrote the longest, most exhaustive economics text ever written, one that deserves to be regarded as a kind of Summa Economica. The five-volume Lehrbuch der Nationalökonomie examines all serious economic thinking up until Pesch’s time, culling what was deficient, retaining what was worthwhile, and filling in what its author perceived to be lacking. The result was a design for an economic system that is opposed to both classically liberal capitalism and state socialism, based instead on Aristotelian-Thomistic philosophical premises. Pesch developed many of the basic principles which emerged in the social encyclicals of the Catholic Church.

Table of Contents


The Function of Exchange in the National Economy

Money and the Monetary System

Trade and Transportation