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Author: Charles R. Geisst Publisher: University of Pennsylvania Press ISBN: 0812207505 Category : Business & Economics Languages : en Pages : 396
Book Description
The practice of charging interest on loans has been controversial since it was first mentioned in early recorded history. Lending is a powerful economic tool, vital to the development of society but it can also lead to disaster if left unregulated. Prohibitions against excessive interest, or usury, have been found in almost all societies since antiquity. Whether loans were made in kind or in cash, creditors often were accused of beggar-thy-neighbor exploitation when their lending terms put borrowers at risk of ruin. While the concept of usury reflects transcendent notions of fairness, its definition has varied over time and place: Roman law distinguished between simple and compound interest, the medieval church banned interest altogether, and even Adam Smith favored a ceiling on interest. But in spite of these limits, the advantages and temptations of lending prompted financial innovations from margin investing and adjustable-rate mortgages to credit cards and microlending. In Beggar Thy Neighbor, financial historian Charles R. Geisst tracks the changing perceptions of usury and debt from the time of Cicero to the most recent financial crises. This comprehensive economic history looks at humanity's attempts to curb the abuse of debt while reaping the benefits of credit. Beggar Thy Neighbor examines the major debt revolutions of the past, demonstrating that extensive leverage and debt were behind most financial market crashes from the Renaissance to the present day. Geisst argues that usury prohibitions, as part of the natural law tradition in Western and Islamic societies, continue to play a key role in banking regulation despite modern advances in finance. From the Roman Empire to the recent Dodd-Frank financial reforms, usury ceilings still occupy a central place in notions of free markets and economic justice.
Author: Charles R. Geisst Publisher: University of Pennsylvania Press ISBN: 0812207505 Category : Business & Economics Languages : en Pages : 396
Book Description
The practice of charging interest on loans has been controversial since it was first mentioned in early recorded history. Lending is a powerful economic tool, vital to the development of society but it can also lead to disaster if left unregulated. Prohibitions against excessive interest, or usury, have been found in almost all societies since antiquity. Whether loans were made in kind or in cash, creditors often were accused of beggar-thy-neighbor exploitation when their lending terms put borrowers at risk of ruin. While the concept of usury reflects transcendent notions of fairness, its definition has varied over time and place: Roman law distinguished between simple and compound interest, the medieval church banned interest altogether, and even Adam Smith favored a ceiling on interest. But in spite of these limits, the advantages and temptations of lending prompted financial innovations from margin investing and adjustable-rate mortgages to credit cards and microlending. In Beggar Thy Neighbor, financial historian Charles R. Geisst tracks the changing perceptions of usury and debt from the time of Cicero to the most recent financial crises. This comprehensive economic history looks at humanity's attempts to curb the abuse of debt while reaping the benefits of credit. Beggar Thy Neighbor examines the major debt revolutions of the past, demonstrating that extensive leverage and debt were behind most financial market crashes from the Renaissance to the present day. Geisst argues that usury prohibitions, as part of the natural law tradition in Western and Islamic societies, continue to play a key role in banking regulation despite modern advances in finance. From the Roman Empire to the recent Dodd-Frank financial reforms, usury ceilings still occupy a central place in notions of free markets and economic justice.
Author: Stephen Alford Publisher: Bloomsbury Publishing USA ISBN: 1620408236 Category : History Languages : en Pages : 436
Book Description
The dramatic story of the dazzling growth of London in the sixteenth century. For most, England in the sixteenth century was the era of the Tudors, from Henry VII and VIII to Elizabeth I. But as their dramas played out at court, England was being transformed economically by the astonishing discoveries of the New World and of direct sea routes to Asia. At the start of the century, England was hardly involved in the wider world and London remained a gloomy, introverted medieval city. But as the century progressed something extraordinary happened, which placed London at the center of the world stage forever. Stephen Alford's evocative, original new book uses the same skills that made his widely-praised The Watchers so successful, bringing to life the network of merchants, visionaries, crooks, and sailors who changed London and England forever. In a sudden explosion of energy, English ships were suddenly found all over the world--trading with Russia and the Levant, exploring Virginia and the Arctic, and fanning out across the Indian Ocean. The people who made this possible--the families, the guild members, the money-men who were willing to risk huge sums and sometimes their own lives in pursuit of the rare, exotic, and desirable--are as interesting as any of those at court. Their ambitions fueled a new view of the world--initiating a long era of trade and empire, the consequences of which still resonate today.
Author: David Eltis Publisher: Cambridge University Press ISBN: 1139480456 Category : History Languages : en Pages : 353
Book Description
Human Capital and Institutions is concerned with human capital in its many dimensions and brings to the fore the role of political, social, and economic institutions in human capital formation and economic growth. Written by leading economic historians, including pioneers in historical research on human capital, the chapters in this text offer a broad-based view of human capital in economic development. The issues they address range from nutrition in pre-modern societies to twentieth-century advances in medical care; from the social institutions that provided temporary relief to workers in the middle and lower ranges of the wage scale to the factors that affected the performance of those who reached the pinnacle in business and art; and from political systems that stifled the advance of literacy to those that promoted public and higher education. Just as human capital has been a key to economic growth, so has the emergence of appropriate institutions been a key to the growth of human capital.
Author: Eric Kerridge Publisher: Routledge ISBN: 9781138736788 Category : Languages : en Pages :
Book Description
This title was first published in 2003: In his Summa Theologica, Thomas Aquinas takes what most assume to be the orthodox Christian position when he condemns the practice of usury, which he defines as the charging a price for the loan of a sum of money. Yet, whilst this definition has become widely accepted by historians, it is clear from a close reading of contemporary texts, that by the Reformation, the situation was in fact much more complicated. Indeed, by the middle of the sixteenth century, Melanchthon was confidently to assert 'that which is interest is wholly different from usuries'. This book is the first systematic study of the practice of moneylending during the Reformation. Through the detailed examination of a variety of documents, it challenges the established views on usury and interest, providing a fresh interpretation that explains how figures such as Luther could condemn usury whilst still upholding the legality of lending money at interest. Divided into two parts, the first half of the book provides a background to the subject, putting forward Professor Kerridge's arguments about usury and interest in the context of the Reformation. The second part of the book presents selections from 38 contemporary documents on the subject (in both the original language and English translation) written by key Reformation figures such as Calvin, Luther and Zwingli. As such, this book will be useful as both a research and reference work
Author: Rachel M. McCleary Publisher: Oxford University Press ISBN: 0199781281 Category : Business & Economics Languages : en Pages : 415
Book Description
This is a one-of-kind volume bringing together leading scholars in the economics of religion for the first time. The treatment of topics is interdisciplinary, comparative, as well as global in nature. Scholars apply the economics of religion approach to contemporary issues such as immigrants in the United States and ask historical questions such as why did Judaism as a religion promote investment in education? The economics of religion applies economic concepts (for example, supply and demand) and models of the market to the study of religion. Advocates of the economics of religion approach look at ways in which the religion market influences individual choices as well as institutional development. For example, economists would argue that when a large denomination declines, the religion is not supplying the right kind of religious good that appeals to the faithful. Like firms, religions compete and supply goods. The economics of religion approach using rational choice theory, assumes that all human beings, regardless of their cultural context, their socio-economic situation, act rationally to further his/her ends. The wide-ranging topics show the depth and breadth of the approach to the study of religion.
Author: James Birch Kelly Publisher: ISBN: 9781504276320 Category : Languages : en Pages : 116
Book Description
Hardcover reprint of the original 1853 edition - beautifully bound in brown cloth covers featuring titles stamped in gold, 8vo - 6x9. No adjustments have been made to the original text, giving readers the full antiquarian experience. For quality purposes, all text and images are printed as black and white. This item is printed on demand. Book Information: Kelly, James Birch. A Summary Of The History And Law Of Usury: With An Examination Of The Policy Of The Existing System, And Suggestions For Its Amendment, Together With A Collection Of Statutes. Indiana: Repressed Publishing LLC, 2012. Original Publishing: Kelly, James Birch. A Summary Of The History And Law Of Usury: With An Examination Of The Policy Of The Existing System, And Suggestions For Its Amendment, Together With A Collection Of Statutes, . Philadelphia: T. & J.W. Johnson, 1853. Subject: Usury Laws
Author: Charles R. Geisst
Author: Charles R. Geisst
Author: James Birch Kelly
Author: Jeremy Bentham
Author: Stephen Alford
Author: David Eltis
Author: Eric Kerridge
Author: Emilios Avgouleas
Author: Franklin Winton Ryan
Author: Rachel M. McCleary
Author: James Birch Kelly