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Author: Murat Ustaoğlu
Publisher: Taylor & Francis
ISBN: 1000987671
Category : Business & Economics
Languages : en
Pages : 123
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Book Description
This book offers a chronological account of the development of interest-bearing debt and how the issue of interest has been addressed throughout medieval and modern civilizations. It provides a review of the impact of these interest-bearing debt practices upon social relations and institutions, throughout the history of modern economics, observing the relative conditions of the time. The author asserts that the development of the concept of interest and debt can be traced through three historical periods. The first period covers measures from a more radical stance, as introduced by the Monotheistic religions, with the same foundations and principles at their core. The second period examines the arguments that justify interest-bearing debt and particularly how the stance of major religions has been translated into a basis of support for these transactions. And the final part offers a linear report of the development of interest-bearing debt and its disruptive impact throughout the history of economics from medieval times to the modern era. Initially, the book presents a conceptual framework of terms applicable to the discussions and 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 prohibition. While the book is grounded in research that relies heavily on historical sources, it offers a contribution to the literature on economics as well, since the historical findings are analyzed in the context of economic terms and theories. An interdisciplinary effort, the book will attract the attention of those who have an interest in finance, economics, history, religion, and sociology.
Author: Murat Ustaoğlu
Publisher: Taylor & Francis
ISBN: 1000987671
Category : Business & Economics
Languages : en
Pages : 123
Get Book Here
Book Description
This book offers a chronological account of the development of interest-bearing debt and how the issue of interest has been addressed throughout medieval and modern civilizations. It provides a review of the impact of these interest-bearing debt practices upon social relations and institutions, throughout the history of modern economics, observing the relative conditions of the time. The author asserts that the development of the concept of interest and debt can be traced through three historical periods. The first period covers measures from a more radical stance, as introduced by the Monotheistic religions, with the same foundations and principles at their core. The second period examines the arguments that justify interest-bearing debt and particularly how the stance of major religions has been translated into a basis of support for these transactions. And the final part offers a linear report of the development of interest-bearing debt and its disruptive impact throughout the history of economics from medieval times to the modern era. Initially, the book presents a conceptual framework of terms applicable to the discussions and 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 prohibition. While the book is grounded in research that relies heavily on historical sources, it offers a contribution to the literature on economics as well, since the historical findings are analyzed in the context of economic terms and theories. An interdisciplinary effort, the book will attract the attention of those who have an interest in finance, economics, history, religion, and sociology.
Author: Murat Ustaoğlu
Publisher:
ISBN: 9780367484880
Category : Consumer credit
Languages : en
Pages : 134
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Book Description
With the spread of interest-based transactions, major problems such as inequality, poverty and debt-based slavery have emerged. Those who practiced professions such as usury have, despite the negative connotations attributed to them, contributed extensively to the construction of the conventional financial system in the global economy, suggesting that the core concepts in this practice need to be analyzed in greater depth and from a historical perspective. This book analyses the evolution of interest-bearing debt transactions from Ancient times to the era of Abrahamic religions. In modern times, interest is strictly prohibited by Islam but this book demonstrates that it is a practice that has been condemned and legally and morally prohibited in other civilizations, long before Islam outlawed it. Exploring the roots of this prohibition and how interest has been justified as a viable practice in economic and financial transactions, the book offers deep insight into the current nature of finance and economics, and the distinctive features of Islamic finance in particular and enables researchers to further delve into a review of interest-free financing models. Islamic finance, or alternative financial methods have become extremely popular particularly in the aftermath of global financial crises, suggesting that they will attract further interest in the future as well. The book is primarily aimed at undergraduate and graduate students but, as it avoids the use of technical jargon, it also speaks to a general readership. It will appeal to those who have an interest in financial history, particularly the history of borrowing practices as well.
Author: Philip Goodchild
Publisher: Duke University Press
ISBN: 0822392550
Category : Religion
Languages : en
Pages : 315
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Book Description
Theology of Money is a philosophical inquiry into the nature and role of money in the contemporary world. Philip Goodchild reveals the significance of money as a dynamic social force by arguing that under its influence, moral evaluation is subordinated to economic valuation, which is essentially abstract and anarchic. His rigorous inquiry opens into a complex analysis of political economy, encompassing markets and capital, banks and the state, class divisions, accounting practices, and the ecological crisis awaiting capitalism. Engaging with Christian theology and the thought of Carl Schmitt, Georg Simmel, Karl Marx, Adam Smith, and many others, Goodchild develops a theology of money based on four contentions, which he elaborates in depth. First, money has no intrinsic value; it is a promise of value, a crystallization of future hopes. Second, money is the supreme value in contemporary society. Third, the value of assets measured by money is always future-oriented, dependent on expectations about how much might be obtained for those assets at a later date. Since this value, when realized, will again depend on future expectations, the future is forever deferred. Financial value is essentially a degree of hope, expectation, trust, or credit. Fourth, money is created as debt, which involves a social obligation to work or make profits to repay the loan. As a system of debts, money imposes an immense and irresistible system of social control on individuals, corporations, and governments, each of whom are threatened by economic failure if they refuse their obligations to the money system. This system of debt has progressively tightened its hold on all sectors and regions of global society. With Theology of Money, Goodchild aims to make conscious our collective faith and its dire implications.
Author: Jamaal al-Din M. Zarabozo
Publisher:
ISBN: 9789960296029
Category : Islam
Languages : en
Pages : 172
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Book Description
Author: Margrit Kennedy
Publisher: Stranger Journalism
ISBN: 0964302500
Category : Business & Economics
Languages : en
Pages : 57
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Book Description
Publisher: Inbook; Rev Sub edition (March 1995)Language: EnglishISBN-10: 0964302500ISBN-13: 978-0964302501
Author: Mervyn K. Lewis
Publisher: Edward Elgar Publishing
ISBN: 0857939033
Category : Business & Economics
Languages : en
Pages : 348
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Book Description
Judaism, Christianity and Islam all impose obligations and constraints upon the rightful use of wealth and earthly resources. All three of these religions have well-researched views on the acceptability of practices such as usury but the principles and practices of other, non-interest, financial instruments are less well known. This book examines each of these three major world faiths, considering their teachings, social precepts and economic frameworks, which are set out as a guide for the financial dealings and economic behaviour of their adherents.
Author: Tim Parks
Publisher: Profile Books
ISBN: 1847656870
Category : History
Languages : en
Pages : 288
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Book Description
The Medici are famous as the rulers of Florence at the high point of the Renaissance. Their power derived from the family bank, and this book tells the fascinating, frequently bloody story of the family and the dramatic development and collapse of their bank (from Cosimo who took it over in 1419 to his grandson Lorenzo the Magnificent who presided over its precipitous decline). The Medici faced two apparently insuperable problems: how did a banker deal with the fact that the Church regarded interest as a sin and had made it illegal? How in a small republic like Florence could he avoid having his wealth taken away by taxation? But the bank became indispensable to the Church. And the family completely subverted Florence's claims to being democratic. They ran the city. Medici Money explores a crucial moment in the passage from the Middle Ages to the Modern world, a moment when our own attitudes to money and morals were being formed. To read this book is to understand how much the Renaissance has to tell us about our own world. Medici Money is one of the launch titles in a new series, Atlas Books, edited by James Atlas. Atlas Books pairs fine writers with stories of the economic forces that have shaped the world, in a new genre - the business book as literature.
Author: Paul Oslington
Publisher: Oxford University Press
ISBN: 0199729719
Category : Business & Economics
Languages : en
Pages : 657
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Book Description
The new interdisciplinary field of Christianity and economics deals with the important and difficult questions that cluster at the boundary of these disciplines, drawing on contemporary theory and empirical findings in both fields, with roots in older discourses. This landmark volume surveys the field and advances the discussion. It deploys historical, economic, and theological analysis to search for answers.
Author: Murat Ustaoğlu
Publisher: Routledge
ISBN: 1000199517
Category : Business & Economics
Languages : en
Pages : 279
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Book Description
It would be difficult to examine interest- free alternative fi nancial systems without reviewing the evolution of debt; thus, this book offers a chronological account of the development of interest- bearing debt and contributors offer their take on how the issue of interest has been addressed throughout medieval and modern civilizations. The Evolution of Interest and Debt provides a review of the impact of these interest-bearing debt 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 measures from a more radical stance, as introduced by the Abrahamic religions, with the same foundations and principles at their core. The second period examines the arguments that justify interest-bearing debt, particularly how the stance of major religions has been translated into a basis of support for these transactions. The third and final part offers a chronological account of the development of interest-bearing debt transactions and their disruptive impacts throughout the history of modern economics from the medieval to the modern era. Initially, the book presents a conceptual framework of terms applicable to the discussions and 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 prohibition. Each period presents its own dynamics and helps analysts better understand the history and roots of interest-bearing debt. 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 analyzed in the context of economic terms and theories. An interdisciplinary effort, the book will attract the attention of those who have an interest in fi nance, economics, history, religion and sociology.
Author: Adair Turner
Publisher: Princeton University Press
ISBN: 0691175985
Category : Business & Economics
Languages : en
Pages : 330
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Book Description
Why our addiction to debt caused the global financial crisis and is the root of our financial woes Adair Turner became chairman of Britain's Financial Services Authority just as the global financial crisis struck in 2008, and he played a leading role in redesigning global financial regulation. In this eye-opening book, he sets the record straight about what really caused the crisis. It didn’t happen because banks are too big to fail—our addiction to private debt is to blame. Between Debt and the Devil challenges the belief that we need credit growth to fuel economic growth, and that rising debt is okay as long as inflation remains low. In fact, most credit is not needed for economic growth—but it drives real estate booms and busts and leads to financial crisis and depression. Turner explains why public policy needs to manage the growth and allocation of credit creation, and why debt needs to be taxed as a form of economic pollution. Banks need far more capital, real estate lending must be restricted, and we need to tackle inequality and mitigate the relentless rise of real estate prices. Turner also debunks the big myth about fiat money—the erroneous notion that printing money will lead to harmful inflation. To escape the mess created by past policy errors, we sometimes need to monetize government debt and finance fiscal deficits with central-bank money. Between Debt and the Devil shows why we need to reject the assumptions that private credit is essential to growth and fiat money is inevitably dangerous. Each has its advantages, and each creates risks that public policy must consciously balance.
