Beggar Thy Neighbor

Beggar Thy Neighbor
Publisher University of Pennsylvania Press
Release Date
Category Business & Economics
Total Pages 388
ISBN 9780812244625
Rating 2/5 from 1 reviews
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The practice of charging interest on loans has been controversial since it was first mentioned in early recorded history. Lending is a powerful economic tool, vital to the development of society but it can also lead to disaster if left unregulated. Prohibitions against excessive interest, or usury, have been found in almost all societies since antiquity. Whether loans were made in kind or in cash, creditors often were accused of beggar-thy-neighbor exploitation when their lending terms put borrowers at risk of ruin. While the concept of usury reflects transcendent notions of fairness, its definition has varied over time and place: Roman law distinguished between simple and compound interest, the medieval church banned interest altogether, and even Adam Smith favored a ceiling on interest. But in spite of these limits, the advantages and temptations of lending prompted financial innovations from margin investing and adjustable-rate mortgages to credit cards and microlending. In Beggar Thy Neighbor, financial historian Charles R. Geisst tracks the changing perceptions of usury and debt from the time of Cicero to the most recent financial crises. This comprehensive economic history looks at humanity's attempts to curb the abuse of debt while reaping the benefits of credit. Beggar Thy Neighbor examines the major debt revolutions of the past, demonstrating that extensive leverage and debt were behind most financial market crashes from the Renaissance to the present day. Geisst argues that usury prohibitions, as part of the natural law tradition in Western and Islamic societies, continue to play a key role in banking regulation despite modern advances in finance. From the Roman Empire to the recent Dodd-Frank financial reforms, usury ceilings still occupy a central place in notions of free markets and economic justice.

Beggar Thy Neighbor
  • Author : Charles R. Geisst
  • Publisher : University of Pennsylvania Press
  • Release Date : 2013-03-15

The practice of charging interest on loans has been controversial since it was first mentioned in early recorded history. Lending is a powerful economic tool, vital to the development of society but it can also lead to disaster if left unregulated. Prohibitions against excessive interest, or usury, have been found

GET BOOK
Beggar thy neighbor Or Favor Thy Industry
  • Author : Martin Braml
  • Publisher : Unknown
  • Release Date : 2020

Since 2018, the U.S. and the EU have been erecting additional tariff barriers against each other. This study takes stock of existing transatlantic retaliatory tariffs and examines three different motives that explain how products are chosen to qualify for tariff retaliation. These channels are: shifting the tariff incidence abroad according

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 Beggar Thy Neighbor  Effect in Public Debts  Evidence from Cross Border Spillovers of Fiscal Consolidations
  • Author : Anonim
  • Publisher : Unknown
  • Release Date : 2015

Read online Beggar Thy Neighbor Effect in Public Debts Evidence from Cross Border Spillovers of Fiscal Consolidations written by , published by which was released on 2015. Download full Beggar Thy Neighbor Effect in Public Debts Evidence from Cross Border Spillovers of Fiscal Consolidations Books now! Available in PDF, ePub and Kindle.

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Beggar Your Neighbours
  • Author : Joseph Hanlon,Catholic Institute For International Relations Staff
  • Publisher : Indiana University Press
  • Release Date : 1986

..". comprehensive in its coverage, exacting in its standards of description and interpretation, and almost faultless in its use of source material and existing literature... " -- Anti-Apartheid News ..". an excellent compendium of information on the military and economic power that South Africa applies in dealing with its neighbors." -- Foreign Service

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Trade Wars Are Class Wars
  • Author : Matthew C. Klein,Michael Pettis
  • Publisher : Yale University Press
  • Release Date : 2020-05-19

"This is a very important book."--Martin Wolf, Financial TimesA provocative look at how today's trade conflicts are caused by governments promoting the interests of elites at the expense of workers Longlisted for the 2020 Financial Times & McKinsey Business Book of the Year Award "Worth reading for [the authors'] insights into

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Spillover Effects of Exchange Rates
  • Author : Aaditya Mattoo,Ms.Prachi Mishra,Mr.Arvind Subramanian
  • Publisher : International Monetary Fund
  • Release Date : 2012-03-01

This paper estimates the impact of China's exchange rate changes on exports of competitor countries in third markets, which we call the "spillover effect". We use recent theory to develop an identification strategy in which competition between China and its developing country competitors in specific products and destinations plays a

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Who Adjusts
  • Author : Beth A. Simmons
  • Publisher : Princeton University Press
  • Release Date : 1997-09-18

Using cross-sectional time series data and four cases, Simmons offers a profile of the domestic politics and institutions associated with capital flight, current account deficit, currency devaluation, and tariff protection - all of which were inconsistent with the demands of remaining on gold. She demonstrates that capital flight and current

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Charles R  Geisst  Beggar Thy Neighbor  A History of Usury and Debt
  • Author : Anonim
  • Publisher : Unknown
  • Release Date : 2021-04-11

Read online Charles R Geisst Beggar Thy Neighbor A History of Usury and Debt written by , published by which was released on . Download full Charles R Geisst Beggar Thy Neighbor A History of Usury and Debt Books now! Available in PDF, ePub and Kindle.

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Assessing Technology and Innovation Policies
  • Author : Cristiano Antonelli,Albert N. Link
  • Publisher : Routledge
  • Release Date : 2020-05-21

This volume brings together eminent international scholars to discuss and analyze regional and national technology and innovation policies from an economic assessment or economic impacts perspective. The analysis covers policies relevant to countries in Europe and Asia, and the United States. Not only might this volume initiate further study of

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Witness to Transformation
  • Author : Stephan Haggard,Marcus Noland
  • Publisher : Peterson Institute
  • Release Date : 2010-07-20

"Human rights and the protection of refugees is not a concern of left or right, or of the US only; it is an issue of importance to all Koreans, and indeed all countries. Haggard and Noland provide compelling evidence of the ongoing transformation of North Korean society and offer thoughtful

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Demand for Value Added and Value Added Exchange Rates
  • Author : Rudolfs Bems,Robert C. Johnson
  • Publisher : International Monetary Fund
  • Release Date : 2015-09-08

We examine the role of cross-border input linkages in governing how international relative price changes influence demand for domestic value added. We define a novel value-added real effective exchange rate (REER), which aggregates bilateral value-added price changes, and link this REER to demand for value added. Input linkages enable countries

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The Globalization Paradox
  • Author : Dani Rodrik
  • Publisher : Oxford University Press
  • Release Date : 2011-03-24

For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them?Dani Rodrik

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International Monetary Fund Amendments
  • Author : United States. Congress. Senate. Committee on Foreign Relations
  • Publisher : Unknown
  • Release Date : 1976

Read online International Monetary Fund Amendments written by United States. Congress. Senate. Committee on Foreign Relations, published by which was released on 1976. Download full International Monetary Fund Amendments Books now! Available in PDF, ePub and Kindle.

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Loan Sharks
  • Author : Charles R. Geisst
  • Publisher : Brookings Institution Press
  • Release Date : 2017-04-04

Predatory lending: A problem rooted in the past that continues today. Looking for an investment return that could exceed 500 percent annually; maybe even twice that much? Private, unregulated lending to high-risk borrowers is the answer, or at least it was in the United States for much of the period from

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The Global Impact of the Great Depression 1929 1939
  • Author : Dietmar Rothermund
  • Publisher : Routledge
  • Release Date : 2002-11-01

This study broadens the conventional focus of the Great Depression to include its impact on the countries of Africa, Asia and Latin America. It covers the economic background and causes, from the international gold standard to agricultural over-production in the US. Other areas discussed include: the impact on the peasantry

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