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Plato and Aristotle on Interest rates

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and upon Plato, Laws, Book V:
“In marrying and giving in marriage, no one shall give or receive any dowry at all; and no one shall deposit money with another whom he does not trust as a friend, nor shall he lend money upon interest; and the borrower should be under no obligation to repay either capital or interest.”

http://classics.mit.edu/Plato/laws.5.v.html

and upon Aristotle, Politics, Book I, Part 10:
“There are two sorts of wealth-getting, as I have said; one is a part of household management, the other is retail trade: the former necessary and honorable, while that which consists in exchange is justly censured; for it is unnatural, and a mode by which men gain from one another. The most hated sort, and with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural object of it. For money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money because the offspring resembles the parent. Wherefore of any modes of getting wealth this is the most unnatural.”

http://classics.mit.edu/Aristotle/politics.1.one.html

The Jews assert that since Christians forbade the practice of usury as immoral, the Christians having relied on Luke 6:35
“But love ye your enemies, and do good, and lend, hoping for nothing again; and your reward shall be great, and ye shall be the children of the Highest: for he is kind unto the unthankful and to the evil.”

Written by morris

March 14, 2009 at 12:40 pm

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