Religious Prohibitions Against Usury

C.G. Reed and C.T. Bekar

Discussion Papers from Department of Economics, Simon Fraser University

Abstract: Religious prohibitions against usury constitute a tie-in between religious reward and the use of charity and reciprocal exchange to smooth consumptiopn. We argue that prohibitions will occur when the following apply: consumption smoothing is requied for the survival of the population; charity and/or informal pooling ("informal insurance") are necessary to solve the consumption smoothing problem; solving the problem; is the responsability of the monopoly religion; consumption via the capital market poses a threat to charity and informal pooling.

Keywords: RELIGION; CONSUMPTION (search for similar items in EconPapers)
JEL-codes: D64 (search for similar items in EconPapers)
Date: 1997
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