10 March, 2022

Our Usurious Economy

What is usury and is it of any relevance to people today? For the most part, in modern times the term usury has come to mean the taking of excess, often outrageous, interest on a loan. But the classical definition in Catholic theology of usury was something a little different: the taking of any interest, in any amount, and no matter what the loan would be used for, simply because there is a loan contract. The most complete papal statement of this is found in the 1745 encyclical of Pope Benedict XIV, Vix Pervenit, the relevant portions of which run,