Evolution of Interest and Debt: From Middle Ages to Modern Times

The book explores the development of interest-bearing debt and its impact on social relations and institutions throughout medieval and modern civilizations. It traces the concept of interest through three historical periods, examining the theological and philosophical arguments that justify it. The book offers a conceptual framework and analyzes the consistency and reliability of the arguments. It is interdisciplinary and will appeal to those interested in finance, economics, history, religion, and sociology.

Format: Hardback
Length: 180 pages
Publication date: 19 October 2020
Publisher: Taylor & Francis Ltd

The Evolution of Interest and Debt: A Comprehensive Examination

Interest-free alternative financial systems cannot be fully understood without examining the evolution of debt. This book offers a chronological account of the development of interest-bearing debt, exploring the various factors that have shaped its history. Contributors offer their insights on how the issue of interest has been addressed throughout medieval and modern civilizations.

The Evolution of Interest and Debt delves into the profound impact of interest-bearing debt and practices on social relations and institutions throughout modern economics. By examining the relative conditions of different historical periods, the book sheds light on the ongoing problems and challenges faced by societies.

The authors assert that the development of the concept of interest can be traced through three historical periods. The first period encompasses measures introduced by the Abrahamic religions, which share fundamental foundations and principles. The second period examines the arguments that justify interest-bearing debt, particularly how the stances of major religions have been translated into a basis of support for these transactions. The third and final part provides a chronological account of the development of interest-bearing debt transactions and their disruptive impacts from the medieval to the modern era.

The book begins by presenting a conceptual framework of terms applicable to the discussions. It then examines the consistency and reliability of the theological and philosophical arguments on the restrictions imposed upon the practice of interest and debt, including rigid prohibitions. Each period presents its own dynamics and contributes to a better understanding of the history and roots of interest-bearing debt.

While the book is grounded in research that relies on historical sources and scholarly analysis, it also acknowledges the limitations and challenges associated with such studies. The authors recognize that the evolution of interest-bearing debt is a complex and multifaceted issue that cannot be fully explained through a single perspective. They encourage further research and exploration to deepen our understanding of this important topic.

In conclusion, The Evolution of Interest and Debt is a valuable resource for scholars, policymakers, and individuals interested in understanding the history and implications of interest-bearing debt. By providing a comprehensive examination of this topic, the book offers insights into the complex relationship between finance, religion, and society throughout different historical periods. It serves as a reminder of the importance of addressing the challenges posed by interest-bearing debt and promoting alternative financial systems that prioritize social well-being and sustainability.

Weight: 440g
Dimension: 162 x 240 x 18 (mm)
ISBN-13: 9780367484903