 In Western thought systematic inquiry into the character and the value of markets started in the early modern period. Earlier analyses were typically restricted to questions about the economic relations of the household, the “oikos” (which is the root of the term “economics”). Important exceptions are Aristotle’s discussion of the character of money (Politics I, 8–10) and the discussions in which this topic was taken up. They raise fundamental questions about legitimate and illegitimate forms of exchange. From at least the 18th century onwards, one finds intense debates about the nature of markets and their value for individuals and societies (on the history of economic thought see for example the classic, but somewhat outdated, Schumpeter (1954) or for a more technical account Blaug (1996)).