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

Vojtěch Müllner and František Svoboda

Politická ekonomie, 2020, vol. 2020, issue 2, 213-236

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.

Keywords: credit institutions; usury; interest; benevolence (search for similar items in EconPapers)
JEL-codes: B15 G21 N23 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.18267/j.polek.1276

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