The Evolution of Interest and Debt

From Middle Ages to Modern Times
Routledge (Verlag)
  • 1. Auflage
  • |
  • erscheint ca. am 19. Oktober 2020
  • Buch
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  • Hardcover
  • |
  • 232 Seiten
978-0-367-48490-3 (ISBN)
It would be difficult to examine interest-free alternative financial systems without reviewing the evolution of debt practices, thus, this book offers a chronological account of the development of interest-based debt transactions and contributors offer their take on how the issue of interest has been addressed throughout medieval and modern civilizations.

The book provides a review of the impact of these interest-based transactions and practices upon social relations and institutions, throughout the history of modern economics, observing the relative conditions of the time and, as such, will shed light on the ongoing problems as well.

The authors assert that the development of the concept of interest can be traced through three historical periods. The first period covers the emergence of social issues associated with the practice of interest in ancient times, and the introduction of partial measures to deal with these problems, offered particularly by the authorities of divine religions. The second period covers measures from a more radical stance, as introduced by the major religions, with the same foundations and principles at their core. The third and final period, examines the arguments that justify interest-based transactions and particularly how the stance of major religions has been translated into a basis of support for these transactions. Each period presents its own dynamics and helps analysts better understand the history and roots of interest-based transactions. While the book is grounded on research that relies heavily on historical sources, it offers a contribution to the literature on economics as well, since the historical findings are analysed in the context of economic terms and theories.

An interdisciplinary effort, the book will attract attention of those who have an interest in finance, economics, history, religion and sociology.
  • Englisch
  • London
  • |
  • Großbritannien
Taylor & Francis Ltd
  • Für höhere Schule und Studium
  • 1
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  • 1 s/w Tabelle
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  • 1 table
  • Höhe: 235 mm
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  • Breite: 159 mm
978-0-367-48490-3 (9780367484903)
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Murat Ustaoglu is an associate professor of economics at Istanbul University, Istanbul, Turkey.
Ahmet Incekara is a professor of economics at Istanbul University, Istanbul, Turkey.
Editors and Contributors

Chapter 1: Introduction to Evolution of the Interest and Debt
(Murat Ustaoglu)

Chapter 2: Debt and Interest in Early Period of Judaism
(Murat Ustaoglu)

Chapter 3: Major Theological Arguments in Judaism on Debt and Interest
(Murat Ustaoglu)

Chapter 4: Trade, Finance and Jewish Usurers in Medieval Europe
(Akmyrat Amanov, Murat Ustaoglu and Elif Haykir Hobikoglu)

Chapter 5: Basic Education and Usury in Jewish History
(Sena Yagmur Yildiz, Muhammet Sait Bozik and Murat Istekli)

Chapter 6: Debates on the Notion of Usury in St. Aquinas' Thought
(Abdüsselam Sagin)

Chapter 7: Martin Luther's Approach on Interest and Debt
(Muhammet Sait Bozik and Murat Ustaoglu)

Chapter 8: Interest-bearing Debt in the John Calvin School of Thought
(Dilek Demirbas and Safa Demirbas)

Chapter 9: Monte di Pieta
(Murat Istekli and Murat Ustaoglu)

Chapter 10: Origins of Financial Instruments in Islamic Civilizations
(Gülden Poyraz)

Chapter 11: An Analytical Inquiry into the Views of Late Islamic Jurists on the Roots and Sustainability of Interest Ban
(Servet Bayindir and Halil Simsek)

Chapter 12: Pursuit of Interest-Free Financing in Ottoman Society
(Zehra Betül Ustaoglu)

Chapter 13: Concept of Interest in Orthodox Economics
(Adem Levent)

Chapter 14: Notion of Interest in Modern Capitalism Within the Context of Heterodox Schools of Economics
(Adem Levent)

Chapter 15: The Evolution of Interest and Debt
(Murat Istekli and Murat Ustaoglu)


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