Usury
Also known as: Zinswucher
- 1Defined as the practice of charging excessive or abusive interest rates on loans.
- 2Regulated by legal statutes that establish a maximum allowable interest rate.
- 3Often carries a moral condemnation for exploiting the misfortunes of others.
- 4Practitioners are historically called usurers.
- 5Modern colloquial term for an illegal lender is a loan shark.
Usury is the practice of making loans that are seen as unfairly enriching the lender.
Connections4
moral and economic subject of study
A central theme in Mercado's work is the moral distinction between legitimate profit and usury, particularly in the context of international exchange and credit.
subject of economic and moral analysis
Lessius provided sophisticated arguments that distinguished legitimate interest from sinful usury, helping to adapt Catholic doctrine to the realities of early modern banking.
moral and legal subject of study
Medina wrote extensively on the morality of charging interest, providing nuanced theological arguments that distinguished between legitimate profit and sinful usury.
theological and legal subject of analysis
Azpilcueta applied scholastic principles to evaluate the morality of charging interest on loans, distinguishing between legitimate profit and sinful usury.
Usury refers to the practice of issuing loans with interest rates deemed unfairly high or exploitative. Historically and morally, the term has been used to condemn lenders who profit excessively from the financial distress or misfortune of others. This ethical stance often stems from religious or social traditions that prioritize communal welfare over individual profit from debt.
Wuchermedaille 1923Wikimedia Commons; Weners; Own work ( Original text: Eigene Arbeit ); CC BY-SA 3.0; Wikimedia Commons: Category:UsuryDifferent taxi companies at Sofia Airport with similar logos. Price difference: up to factor 10!Wikimedia Commons; Heeeey; Own work; CC BY-SA 3.0; Wikimedia Commons: Category:UsuryOriginal image description from the Deutsche Fotothek Polizeiplakat im Schaufenster eines LampenladensWikimedia Commons; Roger Rössing / Renate Rössing; Deutsche Fotothek; CC BY-SA 3.0 de; Wikimedia Commons: Category:Usury In a modern legal context, usury is defined by specific statutes that set a maximum interest rate for loans. When a lender charges interest exceeding these legal limits, the practice is classified as a violation of the law. Individuals who engage in such predatory lending are commonly referred to as usurers, or in contemporary colloquial terms, loan sharks.