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The article examines the evolution of the concept of economic efficiency (EE) during the Middle Ages (12th–15th centuries) and its impact on modern regulatory practices. Through an analysis of scholastic thought (Thomas Aquinas, Decretum Gratianum) and medieval market institutions, the study demonstrates how principles such as the "fair price" and the prohibition of usury were transformed into mechanisms of state regulation. Using examples from Russian antitrust legislation and price control measures (Decree No. 530, Article 178 of the Criminal Code of the Russian Federation), the continuity of medieval ethical norms in modern economic systems is revealed. Special attention is paid to financial innovations (bills of exchange, maritime loans) that emerged in response to religious restrictions. The findings highlight the resilience of the balance between economic efficiency and social responsibility.
retail, economic efficiency, scholasticism, fair price, antitrust regulation, financial innovations, history of economic thought
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