Usury in Christendom


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Beggar Thy Neighbor


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.




Usury


Book Description

Understanding usury requires an understanding of how the nature of some contracts differs, fundamentally and categorically, from the nature of others. Usury is not a matter of the same kind of contract differing only by 'excessive interest'. Usurious contracts constitute a kind of contract which is intrinsically immoral by its very nature. This book is intended to help people understand what usury is - and is not - and answer many of the questions which naturally arise.







Usury


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London's Triumph


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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.




The Occult Renaissance Church of Rome


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A study of the infiltration of Neoplatonic and Hermetic theology into the Catholic Church in the 15th and 16th centuries.




Constantine's Sword


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A rare book that combines searing passion with a subject that has affected all of our lives. "Chicago Tribune" Novelist, cultural critic, and former priest James Carroll marries history with memoir as he maps the two-thousand-year course of the Church s battle against Judaism and faces the crisis of faith it has sparked in his own life. Fascinating, brave, and sometimes infuriating ("Time"), this dark history is more than a chronicle of religion. It is the central tragedy of Western civilization, its fault lines reaching deep into our culture to create a deeply felt work ("San Francisco Chronicle") as Carroll wrangles with centuries of strife and tragedy to reach a courageous and affecting reckoning with difficult truths."




Christian Jewish Relations 1000-1300


Book Description

The history of relations between Jews and Christians has been a long, complex and often unsettled one; yet histories of medieval Christendom have traditionally paid only passing attention to the role played by Jews in a predominantly Christian society. This book provides an original survey of medieval Christian-Jewish relations encompassing England, Spain, France and Germany, and sheds light in the process on the major developments in medieval history between 1000 and 1300. Anna Sapir Abulafia's balanced yet humane account offers a new perspective on Christian-Jewish relations by analysing the theological, socio-economic and political services Jews were required to render to medieval Christendom. The nature of Jewish service varied greatly as Christian rulers struggled to reconcile the desire to profit from the presence of Jewish men and women in their lands with conflicting theological notions about Judaism. Jews meanwhile had to deal with the many competing authorities and interests in the localities in which they lived; their continued presence hinged on a fine balance between theology and pragmatism. The book examines the impact of the Crusades on Christian-Jewish relations and analyses how anti-Jewish libels were used to define relations. Making adept use of both Latin and Hebrew sources, Abulafia draws on liturgical and exegetical material, and narrative, polemical and legal sources, to give a vivid and accurate sense of how Christians interacted with Jews and Jews with Christians.




The Oxford Handbook of the Economics of Religion


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.