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From ancient Greece to the Middle Ages, the practice of charging interest on loans was branded unproductive and immoral. It was condemned as "usury", a word that connotes wickedness; and money-lenders throughout history have been viewed as parasites and villains. Although the ancient prohibitions on money-lending have been relaxed since the Middle Ages, they continue to affect public policy, and people's view of finance, even today. Dr. Brook discusses the historical and philosophical context
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for the condemnations of money-lending, and reveals the substantial consequences of those condemnations. He demonstrates both the economic importance and the moral desirability of money-lending.
This lecture was recorded at the 2001 Objectivist Summer Conference in Anaheim, CA.
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5 years ago
#ayn rand, #finance, #free markets, #money-lending, #objectivism
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