Antipeponthos and Reciprocity: The Concept of Equivalent Exchange from Aristotle to Turgot

International Review of Economics, Vol. 55, Nos. 1-2, pp. 29-44, 2008

Posted: 15 Sep 2010

See all articles by Nicholas J. Theocarakis

Nicholas J. Theocarakis

National and Kapodistrian University of Athens, Faculty of Economics

Date Written: 2008

Abstract

In modern discussions of reciprocity the concept is distinguished from that of self-interested exchange. In the problem of value in exchange, however, as set up in Aristotle’s Nicomachean Ethics the concept of reciprocity (antipeponthos) as equivalent exchange was central in commercial transactions. The paper discusses (1) the concept of antipeponthos in Aristotle, (2) how issues of trust and inequality of services provided were dealt in Aristotle and (3) the trajectory of the concept of equivalent exchange from Aristotle to Turgot.

Keywords: Reciprocity, Equivalent Exchange, Antipeponthos, Aristotle, Turgot, Boisguilbert, Genovesi

JEL Classification: B11

Suggested Citation

Theocarakis, Nicholas J., Antipeponthos and Reciprocity: The Concept of Equivalent Exchange from Aristotle to Turgot (2008). International Review of Economics, Vol. 55, Nos. 1-2, pp. 29-44, 2008, Available at SSRN: https://ssrn.com/abstract=1676927

Nicholas J. Theocarakis (Contact Author)

National and Kapodistrian University of Athens, Faculty of Economics ( email )

1 Sofokleous Street
Athens, 10559
Greece

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