The School of Salamanca: How Spanish Monks Invented Economics

In the 16th century, while conquistadors brought gold across the Atlantic, a group of Dominican and Jesuit theologians at the University of Salamanca were quietly building the foundations of modern economics. This episode explores how figures like Francisco de Vitoria and Domingo de Soto grappled with inflation, just price, and the morality of commerce in an age of empire. We discuss the School of Salamanca's theories on private property, subjective value, and the unintended consequences of price controls — ideas that would later influence Adam Smith and the Austrian School. Along the way, we look at the real-world impact of the Price Revolution on Spain's economy, the role of silver from Potosí, and why a 16th-century debate about usury still matters today. Lucas and Luna also touch on the Valladolid Debate, where Vitoria's arguments about natural law shaped early international law, and the surprising link between scholastic theologians and free-market thought. #SchoolOfSalamanca #FranciscoDeVitoria #DomingoDeSoto #SpanishEmpire #PriceRevolution #Potos #ValladolidDebate #ScholasticEconomics #JustPrice #Usury #NaturalLaw #InternationalLaw #AdamSmith #AustrianEconomics #16thCentury #Spain #FexingoHistory #History #SpainHistory #Reconquista Keep every episode free: buymeacoffee.com/fexingo