The Orthodox Nationalist: Usury and the Florentine Renaissance - TON 032724

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Today's Orthodox Nationalist details a familiar topic, that of the true nature of usury as pioneered by the northern Italian city-states. The debates over usury are muddied by a lack of clear definition. “Interest” on loans is only one aspect of usury. Usury is better defined as the charging of rents, or any value accruing to a bondholder that has nothing to do with any value in creation. Loans only make sense when they are put to productive use, and production depends on labor, the only source of wealth. During the Renaissance, the rule of the Medici clan in Florence and Rome began to chip away at this idea and, created the modern imperial debt economy.

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