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History of Usury - Book Report/Review Example

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This paper presents usury which was considered a sin against humanity yet it was practiced everywhere during commercialism. Usury was under the power of the pope’s office, for this reason, it regulated finances. The church considered these ideas as leads to rise of sins. …
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History of Usury
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Download file to see previous pages As the discussion highlights that the church antagonized usury because usury for various reasons. It believed there would be unfairness. This is would come up because the interests charged would be lenient to a number of people because some would pay one and half unit for being loaned one unit while others would end up paying two units. The fact that there were no discussions on rates of interests anciently would expedite unfairness.This study declares that inflation may result from the governing power charging high taxation. A lot of money goes to the government side leaving its subjects with less money. This impedes economic growth. Owing to Davanzati’s concept, there will be no circulation of money. Owing to his analogy, this will be like blood circulating to one side of the body. As blood, circulating to one end of the body will cause health complications, so will inflation cause harm to a state. The ancient leaders were prone to inflation. Besides the kings and princes being poor in money lending, they could not preserve the value of money. They were the worst enemies in maintaining money value. They would often degrade the value of money and heavily tax their subjects making money worthless. This was what Davanzati tried to curb in his concept. Just to conclude, Davanzati’s idea about money was a simple idea that explains about money. He brought up how inflation hinders growth in a state. This concept widely applies economically even to date. ...Download file to see next pagesRead More
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