An Essay On Mediaeval Economic Teaching 8 8
An Essay On Mediaeval Economic Teaching 8 8
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Cit. _, p. 35. ] [Footnote 2: _E. G. _ Périn, _Premiers Principes d'Économie politique_, p. 305; Claudio Jannet, _Capital Spéculation et Finance_, p. 83; DeMetz-Noblat, _Lois économiques_, p. 293. ] [Footnote 3: Rambaud, _op. Cit. _, p. 69. ] § 5. _Extrinsic Titles_.
Usury, therefore, was prohibited in all cases. Many people at thepresent day think that the prohibition of usury was the same thingas the prohibition of interest. There could not be a greater mistake. While usury was in all circums...tances condemned, interest was in everycase allowed. The justification of interest rested on precisely thesame ground as the prohibition of usury, namely, the observance of theequality of commutative justice. It was unjust that a greater priceshould be paid for the loan of a sum of money than the amount lent;but it was no less unjust that the lender should find himself in aworse position because of his having made the loan. In other words, the consideration for the loan could not be increased because of anyspecial benefit which it conferred on the borrower, but it couldbe increased on account of any special damage suffered by thelender--precisely the same rule as we have seen applied in the caseof sales.
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To quickly assess the difficulty of the text, read a short excerpt:
Cit. _, p. 35. ] [Footnote 2: _E. G. _ Périn, _Premiers Principes d'Économie politique_, p. 305; Claudio Jannet, _Capital Spéculation et Finance_, p. 83; DeMetz-Noblat, _Lois économiques_, p. 293. ] [Footnote 3: Rambaud, _op. Cit. _, p. 69. ] § 5. _Extrinsic Titles_.
Usury, therefore, was prohibited in all cases. Many people at thepresent day think that the prohibition of usury was the same thingas the prohibition of interest. There could not be a greater mistake. While usury was in all circums...tances condemned, interest was in everycase allowed. The justification of interest rested on precisely thesame ground as the prohibition of usury, namely, the observance of theequality of commutative justice. It was unjust that a greater priceshould be paid for the loan of a sum of money than the amount lent;but it was no less unjust that the lender should find himself in aworse position because of his having made the loan. In other words, the consideration for the loan could not be increased because of anyspecial benefit which it conferred on the borrower, but it couldbe increased on account of any special damage suffered by thelender--precisely the same rule as we have seen applied in the caseof sales.
What to read after An Essay On Mediaeval Economic Teaching 8 8?
You can find similar books in the "Read Also" column, or choose other free books by O'brien George to read onlineMoreLess
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