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The ancient Western philosophers—including Plato, Aristotle, both Catos, Cicero, Seneca and Plutarch—all condemned usury

The ancient Western philosophers—including Plato, Aristotle, both Catos, Cicero, Seneca and Plutarch—all condemned usury

Aristotle argued that “a bit of money cannot beget another,” because cash had been barren, or sterile, and cash that is consequently breeding cash had been abnormal. The philosophy ended up being mirrored within the law that is civil of B.C. republican Rome, which outlawed interest completely.

The prohibition of interest is a well-established working principal integrated into the Islamic economic system in Islam, the criticism of usury was well established during the prophet Mohammed’s life and reinforced by his teachings dating back to early 600 A.D. (more…)