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Calvin's Restrictions on Interest : Guidelines for the Credit Crisis

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  • Graafland, J.J.

    (Tilburg University, Center For Economic Research)

Abstract

Calvin’s view on the legitimacy of interest has had a great impact on the economic development of Western society. Although Calvin took a fundamentally positive attitude to interest, he also proposed several restrictions on the charging of interest. In this article, we investigate the relevance of these restrictions to the current credit crisis. We find that each of them provides a relevant interpretation of what went wrong in the build up of the credit crisis and gives directions to improve policies of banks and governments as well.
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Suggested Citation

  • Graafland, J.J., 2009. "Calvin's Restrictions on Interest : Guidelines for the Credit Crisis," Discussion Paper 2009-90, Tilburg University, Center for Economic Research.
    • Handle: RePEc:tiu:tiucen:096f97db-1df3-4731-9db8-1b1372796c6c
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    Cited by:

    1. Timothy Johnson, 2015. "Reciprocity as a Foundation of Financial Economics," Journal of Business Ethics, Springer, vol. 131(1), pages 43-67, September.
    2. Toseef Azid & Othman Altwijry & Osama Al Rewashidah, 2021. "A Complementary Set for Growth: Interest Free Market and Philanthropy," Journal of Economic Impact, Science Impact Publishers, vol. 3(3), pages 233-242.
    3. Timothy C. Johnson, 2013. "Reciprocity as the foundation of Financial Economics," Papers 1310.2798, arXiv.org.

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