Economics
Much attention has been drawn to the economic thought of the School of Salamanca by Joseph Schumpeter's History of Economic Analysis (1954). It did not coin, but certainly consolidated, the use of the term School of Salamanca in economics. Schumpeter studied scholastic doctrine in general and Spanish scholastic doctrine in particular, and praised the high level of economic science in Spain in the 16th century. He argued that the School of Salamanca most deserve to be considered the founders of economics as a science. The School did not elaborate a complete doctrine of economics, but they established the first modern economic theories to address the new economic problems that had arisen with the end of the medieval order. Unfortunately, there was no continuation of their work until the end of the 17th century and many of their contributions were forgotten, only to be rediscovered later by others.
The English historian of economic thought Marjorie Grice-Hutchinson has published numerous articles and monographs on the School of Salamanca.
Although there does not appear to be any direct influence, the economic thought of the School of Salamanca is in many ways similar to that of the Austrian School. Murray Rothbard referred to them as proto-Austrians.
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