Re: Third Worlder on Free Markets

From: Spike Jones (
Date: Mon Oct 15 2001 - 18:51:01 MDT

> On 10/15/01 6:46 AM, "Robert J. Bradbury" <> wrote:
> >
> > If accurate, this is significant! If Islam really prohibits banks
> > (or individuals) from charging interest then I have a big question
> > whether a successful capitalist economy could ever develop...
> James Rogers wrote:
> IIRC, when similar religious laws were tried in parts of Europe at various
> points in time, I believe the business community created fee structures for
> the various services associated with the interest free loan so that profit
> could be made...

My knowledge of history is dubious at best, but I think there was
a time in Europe where the Christians were forbidden under usury
laws from profitting from loaning capital. Fortunately they had Jews
living among them who were under no such restrictions. The Jews
had many restrictions in other areas, such that the structure of the
laws practically forced them into banking, which turned out to be
enormously profitable. Perhaps someone can fill in the details. spike

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