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| Author: | Graaflund, J.J. |
| Title: | Calvin's restrictions on interest: guidelines for the credit crisis |
| Journal: | Journal of Business Ethics
2010 : OCT, VOL. 96:2, p. 233-248 |
| Index terms: | interest rates banking regulations financial crises capitalism christianity |
| Language: | eng |
| Abstract: | Calvin's perception on the legitimacy of interest has had a major effect on the economic development of Western society. Although Calvin had a fundamentally positive attitude to interest, he also proposed numerous restrictions on the charging of interest. In this article, we examine the relevance of these restrictions to the ongoing credit crisis. We find that each of them offers a relevant interpretation of what went wrong in the buildup of the credit crisis and gives insights to improve policies of both banks and governments. |
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