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První teorie úvěru a její instituce: dobročinné úvěrové instituce v hospodářských dějinách západu
[First Theory of Credit and its Institutions: Benevolent Credit Institutions in an EconomicHistory of the West]

Author

Listed:
  • Vojtěch Müllner
  • František Svoboda

Abstract

For millennia, there have been two credit theories in the Western tradition and two types of credit institutions derived from them. One focused on raising capital for investment purposes, the other dealing with lending of money to private individuals for consumption. This distinction, which is the key to understanding ancient and medieval economic thought, not only allows us to better understand the question of usury in the past, but is also the key to a proper understanding of the development of European credit markets, which have evolved in two ways - investment banking and retail banking. Particular attention is paid to benevolent credit institutions, which laid the foundations for European retail banking.

Suggested Citation

  • Vojtěch Müllner & František Svoboda, 2020. "První teorie úvěru a její instituce: dobročinné úvěrové instituce v hospodářských dějinách západu [First Theory of Credit and its Institutions: Benevolent Credit Institutions in an EconomicHistory ," Politická ekonomie, Prague University of Economics and Business, vol. 2020(2), pages 213-236.
    • Handle: RePEc:prg:jnlpol:v:2020:y:2020:i:2:id:1276:p:213-236
    DOI: 10.18267/j.polek.1276
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    References listed on IDEAS

    as
    1. Botticini, Maristella, 2000. "A Tale of “Benevolent” Governments: Private Credit Markets, Public Finance, and the Role of Jewish Lenders in Medieval and Renaissance Italy," The Journal of Economic History, Cambridge University Press, vol. 60(1), pages 164-189, March.
    2. Bromberg, Benjamin, 1942. "The Origin of Banking: Religious Finance in Babylonia," The Journal of Economic History, Cambridge University Press, vol. 2(1), pages 77-88, May.
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    More about this item

    Keywords

    credit institutions; usury; interest; benevolence;
    All these keywords.

    JEL classification:

    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913

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