Özet:

The origination and advancement in usury and interest are enormously noteworthy with respect to the ideologies of several specialties including law, economics, and religion etc. The word Usury is basically originated from the stem Latin term “Usuria” of middle ages, which refers to interest or disproportionate interest. And basically, usury is defined as indicting some emolument for the usage of money. Usury was potentially expelled and eschewed to a greater extent prior to the advent of Abrahamic faiths of Islam, Judaism, and Christianity. Also, all these religions banned usury. The legitimate foundations of banning usury dates back to the Hammurabi’s Code in 1760 B.C. the practice of usury was also prohibited according to the Hindu legislature which dates back to 400 B.C. Not only this, but Plato also asserted in opposition to usury. This practice of prohibition continued in the religions of Islam, Judaism, and Christianity. Together with this tradition of usury faced utmost criticism from the poets of middle ages such as by Chaucer, Alighieri, Langland, and Shakespeare etc. They criticized usury through their writings. This study thus revolves around exploring the concept of usury and interest in Islam, Judaism, and Christianity. Furthermore, attitude of poets of Medieval times have been analyzed. Additionally, economic decline in middle ages have been examined. Lastly, economic development, usury, and poetic reviews have been critically analyzed.

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