We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
PARANIN DEĞERSİZLİĞİNE DAYANAN TEFECİLİK YASAĞINA KARŞI KAZANÇTAN AYRILAN PAY OLARAK FAİZİN YASALLIĞI.
- Authors
AKALIN, Kürşat Haldun
- Abstract
Martin Luther asserted that usury is wrong because all the risks fall on the borrower, the creditor makes his profit without danger and he earns income without incurring the usual risks due to changing conditions and misfortune. For this reason Luther attacks very unfairness without reckless way in which land was mortgaged and money was collected by indulgences. He insisted that all Germany is being exhausted by usury, notably exploited by borrowing in the form of the annuities. Jean Calvin thought that only productive credit for business purposes is allowed, because this is not usury borrowing. Because he admitted that the debtor could be gain just as much from the money as the creditor. But from poor men no interest is to be taken. At the beginning of modern times, the secular powers were decided to the interest rate according to money's market price which determined by supply and demand. The maximum rate of interest was reduced from 10 percent to 8 percent and to 5 percent later.
- Subjects
GERMANY; USURY; LUTHER, Martin, 1483-1546; CALVIN, Jean, 1509-1564; DEBTOR &; creditor
- Publication
Kafkas University, Journal of Economics & Administrative Sciences Faculty / Kafkas Üniversitesi Iktisadi ve Idari Bilimler Fakültesi Dergisi, 2012, Vol 3, Issue 3, p215
- ISSN
1309-4289
- Publication type
Article