Abstract

The theory of the just price is commonly assumed to have three sources: Political philosophy of Greek antiquity, scholastic ethics of the High Middle Ages, and the Roman law of obligations of late antiquity. While closer inspection confirms this holds for the first two worlds of thought the latter assumption seems ultimately unfounded. The paper claims that the evidence notoriously presented on behalf of that assumption – two rescripts attributed to Roman emperor Diocletian, namely Codex Iustinianus 4.44.2 and 4.44.8 – ultimately points in another direction. Offering both an analysis and an alternative reading of the rescripts an integrated interpretation is given that reconciles them with the “liberalistic spirit of Roman law”. Also, it is explained why, from the point of view of legal and social philosophy, the fact that Roman law refrains from introducing a moral aspect to the institute of price fixing speaks in favour of Roman law rather than against it. [in German]