In this second edition of his seminal study, Alejandro Chafuen covers the economic writings of the Late Scholastics working in the tradition of St.Thomas Aquinas, those whom J. Schumpeter called the first economists. Writing long before Adam Smith, they wrote on private property, trade, monetary theory and policy, value, price, entrepreneurship, the state, and much more, anticipating the insights of the Austrian School. In many ways, these Continental theorists were more advanced than the British Classical School. The second edition (the first edition was called Christians for Freedom) is much expanded and improved to become not only an important book on the history of thought but a crucial study in the development of the Austrian School. There is no more comprehensive account available.