|
Zinskauf
Zinskauf (, "purchase interest") was a financial instrument, similar to an annuity, that rose to prominence in the Middle Ages. The decline of the Byzantine Empire led to a growth of capital in Europe, so the Catholic Church tolerated ''zinskauf'' as a way to avoid prohibitions on usury. Since ''zinskauf'' was an exchange of a fixed amount of money for annual income it was considered a sale rather than a loan. Martin Luther made ''zinskauf'' a subject of his ''Treatise on Usury'' and his ''Sermon on Trade and Usury'' and criticized clerics of the Catholic Church The Catholic Church, also known as the Roman Catholic Church, is the largest Christian church, with 1.3 billion baptized Catholics worldwide . It is among the world's oldest and largest international institutions, and has played a ... for violating the spirit if not the letter of usury laws. In one historian's analysis: References Medieval economics {{Finance-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Usury
Usury () is the practice of making unethical or immoral monetary loans that unfairly enrich the lender. The term may be used in a moral sense—condemning taking advantage of others' misfortunes—or in a legal sense, where an interest rate is charged in excess of the maximum rate that is allowed by law. A loan may be considered usurious because of excessive or abusive interest rates or other factors defined by the laws of a state. Someone who practices usury can be called a ''usurer'', but in modern colloquial English may be called a ''loan shark''. In many historical societies including ancient Christian, Jewish, and Islamic societies, usury meant the charging of interest of any kind, and was considered wrong, or was made illegal. During the Sutra period in India (7th to 2nd centuries BC) there were laws prohibiting the highest castes from practicing usury. Similar condemnations are found in religious texts from Buddhism, Judaism (''Loans and interest in Judaism, ribbit'' in He ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Annuity (finance Theory)
In investment, an annuity is a series of payments made at equal intervals.Kellison, Stephen G. (1970). ''The Theory of Interest''. Homewood, Illinois: Richard D. Irwin, Inc. p. 45 Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments. Annuities can be classified by the frequency of payment dates. The payments (deposits) may be made weekly, monthly, quarterly, yearly, or at any other regular interval of time. Annuities may be calculated by mathematical functions known as "annuity functions". An annuity which provides for payments for the remainder of a person's lifetime is a life annuity. Types Annuities may be classified in several ways. Timing of payments Payments of an ''annuity-immediate'' are made at the end of payment periods, so that interest accrues between the issue of the annuity and the first payment. Payments of an ''annuity-due'' are made at the beginning of payment periods ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Middle Ages
In the history of Europe, the Middle Ages or medieval period lasted approximately from the late 5th to the late 15th centuries, similar to the post-classical period of global history. It began with the fall of the Western Roman Empire and transitioned into the Renaissance and the Age of Discovery. The Middle Ages is the middle period of the three traditional divisions of Western history: classical antiquity, the medieval period, and the modern period. The medieval period is itself subdivided into the Early, High, and Late Middle Ages. Population decline, counterurbanisation, the collapse of centralized authority, invasions, and mass migrations of tribes, which had begun in late antiquity, continued into the Early Middle Ages. The large-scale movements of the Migration Period, including various Germanic peoples, formed new kingdoms in what remained of the Western Roman Empire. In the 7th century, North Africa and the Middle East—most recently part of the Eastern Ro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decline Of The Byzantine Empire
The Byzantine Empire experienced several cycles of growth and decay over the course of nearly a thousand years, including major losses during the Early Muslim conquests of the 7th century. However, modern historians generally agree that the start of the empire's final decline began in the 11th century. In the 11th century the empire experienced a major catastrophe in which most of its heartland territory in Anatolia was lost to the Seljuk Turks following the Battle of Manzikert and ensuing civil war. At the same time, the empire lost its last territory in Italy to the Norman Kingdom of Sicily and faced repeated attacks on its territory in the Balkans. These events created the context for emperor Alexios I Komnenos to call to the West for help, which led to the First Crusade. However, economic concessions to the Italian republics of Venice and Genoa weakened the empire's control over its own finances, especially from the 13th century onward, while tensions with the West led to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital (economics)
In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services. At the macroeconomic level, "the nation's capital stock includes buildings, equipment, software, and inventories during a given year." A typical example is the machinery used in factories. Capital can be increased by the use of the factors of production, which however excludes certain durable goods like homes and personal automobiles that are not used in the production of saleable goods and services. Adam Smith defined capital as "that part of man's stock which he expects to afford him revenue". In economic models, capital is an input in the production function. The total physical capital at any given moment in time is referred to as the capital stock (not to be confused with the capital stock of a business entity). Capital goods, real capital, or capital assets are already-produced, durable goods or any non-fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Europe
Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia and it is located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere. Comprising the westernmost peninsulas of Eurasia, it shares the continental landmass of Afro-Eurasia with both Africa and Asia. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, the Mediterranean Sea to the south and Asia to the east. Europe is commonly considered to be Boundaries between the continents of Earth#Asia and Europe, separated from Asia by the drainage divide, watershed of the Ural Mountains, the Ural (river), Ural River, the Caspian Sea, the Greater Caucasus, the Black Sea and the waterways of the Turkish Straits. "Europe" (pp. 68–69); "Asia" (pp. 90–91): "A commonly accepted division between Asia and E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Catholic Church
The Catholic Church, also known as the Roman Catholic Church, is the largest Christian church, with 1.3 billion baptized Catholics worldwide . It is among the world's oldest and largest international institutions, and has played a prominent role in the history and development of Western civilization.O'Collins, p. v (preface). The church consists of 24 ''sui iuris'' churches, including the Latin Church and 23 Eastern Catholic Churches, which comprise almost 3,500 dioceses and eparchies located around the world. The pope, who is the bishop of Rome, is the chief pastor of the church. The bishopric of Rome, known as the Holy See, is the central governing authority of the church. The administrative body of the Holy See, the Roman Curia, has its principal offices in Vatican City, a small enclave of the Italian city of Rome, of which the pope is head of state. The core beliefs of Catholicism are found in the Nicene Creed. The Catholic Church teaches that it is the on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Martin Luther
Martin Luther (; ; 10 November 1483 – 18 February 1546) was a German priest, theologian, author, hymnwriter, and professor, and Order of Saint Augustine, Augustinian friar. He is the seminal figure of the Reformation, Protestant Reformation and the namesake of Lutheranism. Luther was ordained to the Priesthood in the Catholic Church, priesthood in 1507. He came to reject several teachings and practices of the Catholic Church, Roman Catholic Church; in particular, he disputed the view on indulgences. Luther proposed an academic discussion of the practice and efficacy of indulgences in his ''Ninety-five Theses'' of 1517. His refusal to renounce all of his writings at the demand of Pope Leo X in 1520 and the Charles V, Holy Roman Emperor, Holy Roman Emperor Charles V at the Diet of Worms in 1521 resulted in his Excommunication (Catholic Church)#History, excommunication by the pope and condemnation as an Outlaw#In other countries, outlaw by the Holy Roman Emper ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.svg "Click for more on -> Europe")
.jpg "Click for more on -> Catholic Church")
