Dr Matthew Raphael Johnson looks into the source of much of the misery we find in modern society.
Michael Hoffman wrote a very important book on usury: Usury in Christendom: The Mortal Sin that Was and Now is Not (2018), rescuing the term from modern redefinitions and justifications.
Over a few centuries after the decay of the Middle Ages, that which was considered a deadly sin became something praiseworthy.
Usury is not concerned with an “excessive” interest rate, nor is it concerned with taking advantage of the poor. Those images are the modern reimagining of usury, reduced to something everyone believes to be evil.
To be clear, usury does not mean mere interest taken on a loan, much less “excessive” interest, but rather refers to the extraction of income unrelated to labor, skill and production. In other words, it is money extracted by virtue of power, not production.
Usury is the foundation of rents, or unearned income, and serves as the foundation of modernity.
Presented by Dr Matthew Raphael Johnson
The Orthodox Nationalist: Usury – TON 041923
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