market-based institutions that, ultimately, ended the Middle Ages. In the eleventh century, the birth rate went up appreciably, providing Western Europe with plenty of cheap labor. With the greater social stability brought about by the pacification (via conversion to Christianity) of the barbarian invaders, enterprising men could now begin the slow process of developing a mercantile system. By the beginning of the twelfth century, the growing prosperity of merchant colonies enabled them to build ramparts of stone, flanked by towers, adding greater protection against attack. Cities capable of defense were critical to Europe’s growing merchant class, since the rights of trade must everywhere be defended with force. Medieval cities provided the seed bed for the birth and growth of modern capitalism.
The early developments of medieval trade and the resurgence of Western Europe occurred well before the birth of Thomas Aquinas in the thirteenth century. Indeed, Aquinas came along at the high tide of the Middle Age renaissance. Societal decadence, culminating in the black plague of the fourteenth century, when a third of Europe’s population perished within a few years time, coincided with the life of Aquinas. The Renaissance of the 15th century was merely the third in a series of upswings that Western Europe experienced after the fall of the western half of the Roman Empire (the others being the Carolingian Renaissance of the eighth century and Renaissance of the Middle Ages). The first two post-Empire renaissances had nothing to do with Thomas Aquinas, since they occurred before he was born. Nor was Aquinas the “bridge” to the final renaissance. Indeed, this last renaissance, which ushers in the modern world, involved elements that sharply conflicted with Aquinas, such as a renewed interest in Plato and the emergence non-Aristotelian empirical and mechanistic epistemological paradigms in the 16th and 17th centuries.
The Christian church played a much larger role in the development of Western Civilization than Aquinas or his scholastic philosophy ever did. Critical to the revival of the West was the conversion of the fierce Scandinavian and Slavic barbarians to Christianity. No civilization was possible until this happened. Also critical was the church’s role as a unifying force. Governments in the Middle Ages were weak. Internecine warfare was tearing society apart. What was needed was a unifying force to keep infighting to a minimum. The church, by making use of crusades against Islam, managed to direct the energies of the warlike barons that ruled Europe against foreign targets, instead of against each other (and against the emerging merchant cities).
Whatever role ideas played in the course of European history, their affect is always greatly influenced by the development of institutions that are not the product of human design. Capitalism is not caused by the application of philosophical, political, or economic ideas. The Middle Ages were not economically or politically sophisticated enough to understand the workings of a complex free market, or to develop them a theory that would allow them to create a capitalist system. Such an understanding would only begin to develop in the 18th century. As a matter of fact, the nascent capitalism of the Middle Ages had to develop in the teeth of several ideas that went against its fundamental grain, such as notions concerning rank and birth, the honor codes of the feudal barons, and deep-rooted prejudices against usury (prejudices, I might add, shared by Aquinas and his philosophical idol, Aristotle).