Money Debt And Interest In Monotheistic Religions
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Author | : Murat Ustaoğlu |
Publisher | : Taylor & Francis |
Total Pages | : 123 |
Release | : 2023-10-24 |
Genre | : Business & Economics |
ISBN | : 1000987671 |
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 | : |
Total Pages | : 134 |
Release | : 2020 |
Genre | : Consumer credit |
ISBN | : 9780367484880 |
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 |
Total Pages | : 315 |
Release | : 2009-06-22 |
Genre | : Religion |
ISBN | : 0822392550 |
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 | : |
Total Pages | : 172 |
Release | : 2005 |
Genre | : Islam |
ISBN | : 9789960296029 |
Author | : Margrit Kennedy |
Publisher | : Stranger Journalism |
Total Pages | : 57 |
Release | : 1995 |
Genre | : Business & Economics |
ISBN | : 0964302500 |
Publisher: Inbook; Rev Sub edition (March 1995)Language: EnglishISBN-10: 0964302500ISBN-13: 978-0964302501
Author | : Tim Parks |
Publisher | : Profile Books |
Total Pages | : 288 |
Release | : 2013-08-22 |
Genre | : History |
ISBN | : 1847656870 |
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 | : Murat Ustaoğlu |
Publisher | : Routledge |
Total Pages | : 277 |
Release | : 2020-10-18 |
Genre | : Business & Economics |
ISBN | : 1000199517 |
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 | : Paul Oslington |
Publisher | : Oxford University Press |
Total Pages | : 657 |
Release | : 2014 |
Genre | : Business & Economics |
ISBN | : 0199729719 |
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 | : Daromir Rudnyckyj |
Publisher | : University of Chicago Press |
Total Pages | : 272 |
Release | : 2018-11-22 |
Genre | : Social Science |
ISBN | : 022655208X |
Recent economic crises have made the centrality of debt, and the instability it creates, increasingly apparent. This realization has led to cries for change—yet there is little popular awareness of possible alternatives. Beyond Debt describes efforts to create a transnational economy free of debt. Based on ethnographic fieldwork in Malaysia, Daromir Rudnyckyj illustrates how the state, led by the central bank, seeks to make the country’s capital Kuala Lumpur “the New York of the Muslim world”—the central node of global financial activity conducted in accordance with Islam. Rudnyckyj shows how Islamic financial experts have undertaken ambitious experiments to create more stable economies and stronger social solidarities by facilitating risk- and profit-sharing, enhanced entrepreneurial skills, and more collaborative economic action. Building on scholarship that reveals the impact of financial devices on human activity, he illustrates how Islamic finance is deployed to fashion subjects who are at once more pious Muslims and more ambitious entrepreneurs. In so doing, Rudnyckyj shows how experts seek to create a new “geoeconomics”—a global Islamic alternative to the conventional financial network centered on New York, London, and Tokyo. A groundbreaking analysis of a timely subject, Beyond Debt tells the captivating story of efforts to re-center international finance in an emergent Islamic global city and, ultimately, to challenge the very foundations of conventional finance.
Author | : Susan R. Holman |
Publisher | : Oxford University Press |
Total Pages | : 250 |
Release | : 2001-07-19 |
Genre | : Religion |
ISBN | : 0195139127 |
This study examines a collection of sermons about poverty, starvation, and disease written by three leading Christian bishops of late antiquity: Basil of Caesarea, Gregory of Nazianzus, and Gregory of Nyssa.