3 ms·
The definition of "usury" isn't as straight forward as 'charging interest'. Even in the time of Jesus of Nazareth charging interest was not unheard of (Matthew
by throw0101b 3y ago
The definition of "usury" isn't as straight forward as 'charging interest'. Even in the time of Jesus of Nazareth charging interest was not unheard of (Matthew 25:27; Luke 19:23), and opportunity cost was recognized in the Middle Ages (see Paris, 1200 by Baldwin).
* https://en.wikipedia.org/wiki/Opportunity_cost https://en.wikipedia.org/wiki/Opportunity_cost
We tend to focus on lending money for commercial purposes, but in the ancient world most folks were probably peasant farmers, and they generally needed to borrow / be lent to because the crops failed: charging them interest in their hour of need would be against the virtue of charity.
- na54 3y agoThat's still pretty much how agriculture works today. You borrow from the landlord, the rich or the bank, to pay for seeds, fertilizer, machinery, energy, labor etc and pray you don't get hit by weather, pests, disease, market price fluctuations. If all goes well you pay it back. If it doesn't govt steps in, to the keep you(ie the banks and rich people) afloat. See the size Farming Subsidies and Protections world wide. When they don't step in farms shutdown.
- Lamad1234 3y ago[dead]