An Empty Shell? Rethinking the Usury Laws in Medieval Europe
Many historians have argued that the usury laws were a dead letter and that usurious practices were widespread during the Middle Ages. This review of canonical rule formation in Europe shows that many contracts were outside the prohibition and that the laws were highly effective. The popularity of f...
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| Published in: | Journal of legal history Vol. 23; no. 3; pp. 177 - 196 |
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| Main Author: | |
| Format: | Journal Article |
| Language: | English |
| Published: |
Taylor & Francis Group
01-12-2002
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| Online Access: | Get full text |
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| Summary: | Many historians have argued that the usury laws were a dead letter and that usurious practices were widespread during the Middle Ages. This review of canonical rule formation in Europe shows that many contracts were outside the prohibition and that the laws were highly effective. The popularity of financial instruments depended on obtaining the Church's approval, and ecclesiastical tribunals pursued usurers relentlessly. Although it is not possible to measure with any precision the incidence of usury or the effectiveness of the prohibition, arguments of a high incidence of usury do not stand up in the light of evidence from the contemporary legal context. |
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| ISSN: | 0144-0365 1744-0564 |
| DOI: | 10.1080/01440362308539649 |