I originally wrote a form of the following as a comment down yonder, but thought I’d bump it up to the main blog area because of how interesting the idea is.
My Benedictine friend wrote:
The [Rule of St. Benedict] explicitly directs monks to avoid all greed in business, and to sell or barter their goods at prices lower than others asked.
Following which, a reader asked the very perceptive question:
I know this was really not St. Benedict’s plan, but…
If the monks were to sell their goods at prices lower than others asked, wouldn’t that undercut other purveyors of goods?
Fr. Pedrano (a Benedictine) then said:
In St. Benedict’s culture of bartering and trade (not everyone had cold, hard, cash; no one had plastic), merchants always tried to keep their "prices" high. Maybe St. Benedict’s injunction about charging low prices ended up "undercutting other purveyors. I don’t know. He did write of situations where a monastery could be too poor even to hire laborers to help them with the fields, or to keep certain cultural "dietary" standards–specifically wine–on the table. In those cases, he tells his monks to be satisfied with poverty and work, and to be consoled by the resulting fact of being "true monks."
This–the calling to be "true monks"–seems to me to hold the key to the economic dilemma.
Every free economic transaction involves the exchange of a good or service for something or some things perceived to be of comparable value.
But the things of comparable value are not necessarily money or even material. One might, for example, have a transaction in which one person will give a loaf of bread in exchange for having a song sung or in which one sings a sing in exchange for having an essay proofread.
It seems to me that in this case, the monks received some money in exchange for their goods but they also received other, non-material things of value, such as the chance to make a statement about charity, the importance of the spiritual over the temporal, the chance to themselves make a monetary sacrifice, etc.
As a result, it seems to me that, if they were willing to accept these things in exchange for particular goods or services they had to offer that it would constitute a legitimate transaction in a free market, since the market does not presuppose that all transactions are monetary (barter, for example, may be used, and having the chance to make a statement against greed would seem to be a form of non-material barter).
Should the monks carry this too far, it seems that normal market correction methods would likely address the situation. For example, if they accept so little for their goods and services that their monastery can no longer support itself then they’ll either modify their practice or go out of business as monks.
Similarly, if they are undercutting others so much that they are driving people out of business, impoverishing families who were struggling to begin with, and gravely harming the local economy and are so hardcore in their practice that they won’t modify it when this is made known to them then the amount of ill will generated against them is likely to be such that the Medieval town being harmed would would stop patronizing them, dry up their vocations, burn down the monastery, etc.
The market has a way of correcting for severely disruptive business practices, at least in the long run, since nobody has the unlimited resources needed to permanently sustain fundamentally unsound business practices.
As long as extremes are not pursued, though, it seems that the value of being able to make sacrifices and statements about greed and charity can (and even should) form a legitimate part of economic transactions.
What I want to know is: Does this mean I can get a discount next time I’m at the Prince of Peace Abbey book & gift shop? (Kidding!)