How the Fifth Lateran Council unlocked financial theory
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How the Fifth Lateran Council unlocked financial theory
1–10 of 18 posts
Re: How the Fifth Lateran Council unlocked financial theory
#2[flagged]
Re: How the Fifth Lateran Council unlocked financial theory
#3[flagged]
> for the simple reason that money is a human construct
By that reasoning, there's no such thing as "chess theory" either.
> with the end of scarcity
Scarcity ended? Nobody told me!
Re: How the Fifth Lateran Council unlocked financial theory
#4"Usury" is still a word in use but now, for legal purposes, it means "interest that a lender charges a borrower at a rate above the lawful ceiling on such charges" rather than just any interest at all.
Re: How the Fifth Lateran Council unlocked financial theory
#5[flagged]
As you point out, the difference between money and the tooth fairy is between their characteristics and rules. Economic theory then focuses on money, the economy, and their characteristics and rules to develop insights into patterns, behavior, and previously unseen characteristics inherent to economic theory.
Anyone is free to create a theory of tooth fairies and attempt to find similar relevance.
Re: How the Fifth Lateran Council unlocked financial theory
#6[flagged]
Music is a human construct as well and yet: https://en.wikipedia.org/wiki/Music_theory
Re: How the Fifth Lateran Council unlocked financial theory
#7Re: How the Fifth Lateran Council unlocked financial theory
#8"Usury" is still a word in use but now, for legal purposes, it means "interest that a lender charges a borrower at a rate above the lawful ceiling on such charges" rather than just any interest at all.
It had a very specific meaning, which we would more properly translate as "personal recourse loan".
Re: How the Fifth Lateran Council unlocked financial theory
#9"Usury" is still a word in use but now, for legal purposes, it means "interest that a lender charges a borrower at a rate above the lawful ceiling on such charges" rather than just any interest at all.
traditional usage of usury was the same, any interest charges at a rate above the lawful ceiling, just where the ceiling was 0% for christians and in a like manner for moslems.
Re: How the Fifth Lateran Council unlocked financial theory
#10"Usury" is still a word in use but now, for legal purposes, it means "interest that a lender charges a borrower at a rate above the lawful ceiling on such charges" rather than just any interest at all.
traditional usage of usury was the same, any interest charges at a rate above the lawful ceiling, just where the ceiling was 0% for christians and in a like manner for moslems.
That's a strange way to phrase things. It's a bit like saying that the Church recognizes the licitness of murder under a lawful ceiling, but that this ceiling just happens to be 0 per year.
Interest as such is recognized as theft and therefore an injustice.