International Review of Economics

, 55:29

Antipeponthos and reciprocity: the concept of equivalent exchange from Aristotle to Turgot


DOI: 10.1007/s12232-007-0030-5

Cite this article as:
Theocarakis, N.J. Int. Rev. Econ. (2008) 55: 29. doi:10.1007/s12232-007-0030-5


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.


ReciprocityEquivalent ExchangeAntipeponthos

JEL Classifications


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© Springer-Verlag 2007

Authors and Affiliations

  1. 1.Department of EconomicsNational and Kapodistrian University of AthensAthensGreece