Just price

With intellectual roots in ancient Greek philosophy, it was advanced by Thomas Aquinas based on an argument against usury, which in his time referred to the making of any rate of interest on loans.

[9] With the rise of Capitalism, the use of just price theory faded, largely replaced by the microeconomic concept of supply and demand from Locke, Steuart, Ricardo, Ibn Taymiyyah, and especially Adam Smith.

The Marxist historian E. P. Thompson emphasized the continuing force of this tradition in his article on the "Moral Economy of the English Crowd in the Eighteenth Century.

"[10] Other historians and sociologists have uncovered the same phenomenon in variety of other situations including peasants riots in continental Europe during the nineteenth century and in many developing countries in the twentieth.

The political scientist James C. Scott, for example, showed how this ideology could be used as a method of resisting authority in The Moral Economy of the Peasant: Subsistence and Rebellion in Southeast Asia.

Through the 19th century, the codifications in France and Germany declined to adopt the principle while common law jurisdictions attempted to generalise the doctrine of freedom of contract.