Far from being a bucolic utopia, economic conditions were highly unsatisfactory on the eve of the Industrial Revolution. The traditional social system was not elastic enough to provide for the needs of a rapidly increasing population.
The Scholastics were constrained in their development of economics by considerations of deference to authority and by the relatively slow development of the external economic conditions upon which to reflect.
There is a persistent myth that capitalism has destroyed what would have been a natural abundance and peace of mind. Yet nature does not generate abundance or peace. The characteristic mark of the "state of nature" is irreconcilable conflict.