Reforming The Morality Of Usury

Download or read book Reforming the Morality of Usury written by David W. Jones and published by University Press of America. This book was released on 2004 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the early years of the sixteenth century, the Church experienced a dramatic shift in its moral perception of the practice of usury. Leaders of the continental Protestant Reformation (Lutheran, Calvinist, and Anabaptist) all grappled with the Roman Catholic Church's moral teaching on the practice of lending money at interest. Although these three theological streams addressed the same moral problem, at relatively the same time, they each responded differently. Reforming the Morality of Usury examines how the leaders of each major stream in the continental Protestant Reformation adopted a different approach to reforming moral teaching on the practice of usury.

Download or read book Beggar Thy Neighbor written by Charles R. Geisst and published by University of Pennsylvania Press. This book was released on 2013-04-15 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book On Commerce and Usury (1524) written by Martin Luther and published by Anthem Press. This book was released on 2015-09-15 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents Martin Luther’s contribution to the modern economic sciences, providing a detailed introduction and revised translation of his major pamphlet on economic matters, ‘On Commerce and Usury’ (‘Von Kauffshandlung vnd Wucher’, 1524). In his teachings on indulgences Luther picked up on the question of hoarding money, and was among the earliest voices in early modern Europe calling for an ‘ethical’ economics. Luther’s work prefigured many later contributions to modern economic theory, from the mercantilists and cameralists to the German Historical School.

Download or read book Usury written by Calvin Elliott and published by Library of Alexandria. This book was released on 2007-01-01 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Christian Economic Ethics written by Daniel K. Finn and published by Fortress Press. This book was released on 2013-08-01 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: What does the history of Christian views of economic life mean for economic life in the twenty-first century? Here Daniel Finn reviews the insights provided by a large number of texts, from the Bible and the early church, to the Middle Ages and the Protestant Reformation, to treatments of the subject in the last century. Relying on both social science and theology, Finn then turns to the implications of this history for economic life today. Throughout, the book invites the reader to engage the sources and to develop an answer to the volume's basic question.

Download or read book The Uneasy Conscience of Modern Fundamentalism written by Carl F. H. Henry and published by Wm. B. Eerdmans Publishing. This book was released on 2003-08-29 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1947, The Uneasy Conscience of Modern Fundamentalism has since served as the manifesto of evangelical Christians serious about bringing the fundamentals of the Christian faith to bear in contemporary culture. In this classic book Carl F. H. Henry, the father of modern fundamentalism, pioneered a path for active Christian engagement with the world -- a path as relevant today as when it was first staked out. Now available again and featuring a new foreword by Richard J. Mouw, The Uneasy Conscience of Modern Fundamentalism offers a bracing world-and-life view that calls for boldness on the part of the evangelical community. Henry argues that a reformation is imperative within the ranks of conservative Christianity, one that will result in an ecumenical passion for souls and in the power to meaningfully address the social and intellectual needs of the world.

Download or read book Consumer Credit and the American Economy written by Thomas A. Durkin and published by . This book was released on 2014 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumer Credit and the American Economy examines the economics, behavioral science, sociology, history, institutions, law, and regulation of consumer credit in the United States. After discussing the origins and various kinds of consumer credit available in today's marketplace, this book reviews at some length the long run growth of consumer credit to explore the widely held belief that somehow consumer credit has risen "too fast for too long." It then turns to demand and supply with chapters discussing neoclassical theories of demand, new behavioral economics, and evidence on production costs and why consumer credit might seem expensive compared to some other kinds of credit like government finance. This discussion includes review of the economics of risk management and funding sources, as well discussion of the economic theory of why some people might be limited in their credit search, the phenomenon of credit rationing. This examination includes review of issues of risk management through mathematical methods of borrower screening known as credit scoring and financial market sources of funding for offerings of consumer credit. The book then discusses technological change in credit granting. It examines how modern automated information systems called credit reporting agencies, or more popularly "credit bureaus," reduce the costs of information acquisition and permit greater credit availability at less cost. This discussion is followed by examination of the logical offspring of technology, the ubiquitous credit card that permits consumers access to both payments and credit services worldwide virtually instantly. After a chapter on institutions that have arisen to supply credit to individuals for whom mainstream credit is often unavailable, including "payday loans" and other small dollar sources of loans, discussion turns to legal structure and the regulation of consumer credit. There are separate chapters on the theories behind the two main thrusts of federal regulation to this point, fairness for all and financial disclosure. Following these chapters, there is another on state regulation that has long focused on marketplace access and pricing. Before a final concluding chapter, another chapter focuses on two noncredit marketplace products that are closely related to credit. The first of them, debt protection including credit insurance and other forms of credit protection, is economically a complement. The second product, consumer leasing, is a substitute for credit use in many situations, especially involving acquisition of automobiles. This chapter is followed by a full review of consumer bankruptcy, what happens in the worst of cases when consumers find themselves unable to repay their loans. Because of the importance of consumer credit in consumers' financial affairs, the intended audience includes anyone interested in these issues, not only specialists who spend much of their time focused on them. For this reason, the authors have carefully avoided academic jargon and the mathematics that is the modern language of economics. It also examines the psychological, sociological, historical, and especially legal traditions that go into fully understanding what has led to the demand for consumer credit and to what the markets and institutions that provide these products have become today.