Catholic Encyclopedia has a good article on the history of the change from the Catholic Church's perspective (https://www.newadvent.org/cathen/15235c.htm). In practice of course I think the material benefits of a little bit of finance have shifted the culture. Yes, lending at interest is intrinsically tied to infinite growth and all the environmental problems attendant in that, but it's also allowed pretty much all of the entire Industrial Revolution. Without loans at interest not only would most regular people be unable to ever buy a house or a car, but most of the businesses that brought about modernity would have never made it.
Still, with the push towards loan forgiveness by some parties, with many years of zero- or low-rate interest rates, and with the need to move at some point away from constant growth and towards a more steady-state society...maybe the time has come to dust off usury from the list of sins?
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branchandroot
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Date: 2023-08-28 06:55 pm (UTC)Still, with the push towards loan forgiveness by some parties, with many years of zero- or low-rate interest rates, and with the need to move at some point away from constant growth and towards a more steady-state society...maybe the time has come to dust off usury from the list of sins?