Friday, September 21, 2007


As the European Renaissance broke out across the Continent, lenders began to shake the sinful stigma of usury. The Catholic Church began to relax its stance on usury because it began to understand the concept of risk. Church leaders first realized that commerce was the source of power, then they realized that lenders kick-start commerce. Lenders deserved to profit from their loans because they bore most of the risk. Lenders were no longer condemned for usury. Debt wrought the birthpangs of the free market.


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