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
Date Written: 2008
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: Suggested Citation