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Why were the indigenous people not engaging in money lending - Book Report/Review Example

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Early lenders were whether they were Jews Lombard's, Cohors or the Templar's realized that their financial expertise and foreign status made them objects of envy, derision and retaliation……
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Why were the indigenous people not engaging in money lending
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Download file to see previous pages A major problem in discussing interest and usury especially in the period before the Roman Empire, was determining exactly how interest was calculated.
There was a moral and socio-economic framework that accompanied usury laws in many ancient societies including Greece and Rome ?
When the usury prohibition was included in the Nicene prohibitions it acquired doctrinal status.
As a result rates of usury differed depending on the borrower.
The Fifth Lateran Council was the last church council to hold discussions on usury.
The first formal exposition of formal double entry was done by Luca Pacioli.
Banking was developing rapidly in Italy….
Until the fourteenth century partnerships were the sole method of sharing risk in business
Ironically one financial product(annuities) that escaped the usury discussion in the middle ages because of its political importance.
….the borrowers were not the poor so annuities stood a better chance of acceptance ?
After the fall of Templar's banking was in the hands of small banking families.
The Holy See received revenue from numerous sources….
Because of the break with Rome the way was paved for the Reformers to question the validity of banning all interest.
The banking houses did good business with the Vatican but not with other borrowers
Early capitalism did not find support in Luther…..
Max Weber called Luther's opinions….backward…
Calvin…..extolled interest on land….productivity… ...Download file to see next pagesRead More
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