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Hugo Grotius on Usury

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  • André Lapidus

    (PHARE - Philosophie, Histoire et Analyse des Représentations Économiques - UP1 - Université Paris 1 Panthéon-Sorbonne)

Abstract

This paper explores the way the Scholastic argument against usury, which culminated in the 13th century with Thomas Aquinas's question on interest loans in the Summa Theologiae, found an end with Hugo Grotius's introduction of economic issues, in De Jure Belli ac Pacis (1625). Whereas Grotius inherited at least part of his predecessors' repugnance of interest lending, he found in his questioning of categories from Roman law the source of both a criticism of the main features of the Scholastic argument and an alternative analysis of interest loans in which the income received by the lender is explained and legitimate.

Suggested Citation

  • André Lapidus, 2023. "Hugo Grotius on Usury," Post-Print hal-03989450, HAL.
    • Handle: RePEc:hal:journl:hal-03989450
    Note: View the original document on HAL open archive server: https://paris1.hal.science/hal-03989450
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    References listed on IDEAS

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    1. Pierre Januard, 2022. "Risky exchanges: price and justice in Thomas Aquinas’s De emptione et venditione ad tempus," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 29(4), pages 729-769, July.
    2. Pierre Januard, 2021. "Analysis risk and commercial risk: the first treatment of usury in Thomas Aquinas’s Commentary on the Sentences," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 28(4), pages 599-634, July.
    3. André Lapidus, 1997. "Metal, Money, and the Prince: John Buridan and Nicholas Oresme after Thomas Aquinas," History of Political Economy, Duke University Press, vol. 29(1), pages 21-53, Spring.
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    More about this item

    Keywords

    Grotius; Usury; Interest; Contract; Money loan;
    All these keywords.

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