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Medici Money |
rffrydr
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 Posted: Thu Feb 12, 2009 2:13 pm Post subject: Medici Money |
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“Never shall I be able to give God enough to set him down in my books as a debtor,”...
That the Papacy would align with the Medici Banks in a flagrant effort to corner the market in Alum (Bugs take note) showed that Christian West had come a long way since the biblical prohibition of usury--the upending of which, literally, for which Jesus died. That they failed proved there were no miracles when it came to finance. But the world (trade) was ready for what no longer could be left to the jews.
How to square this circle?
The Pope held the key of course (and a heavy tithe to the catholic arts)--All that was left was the money itself. As money grows from object to concept and then back to many objects, classifiable, discriminated--
"priced." It's ascent was assured.
| Quote: | In truth, the church's usury doctrine may actually have stimulated such late-medieval innovations as the bill of exchange, joint-stock companies, fractional reserve banking and marine insurance. Even so, it helped for a family to commission an altarpiece or two.
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http://www.observer.com/node/51107
Here's one of the turning points in Western Civ.--like Constantine before him, and Jebus before him, a force has turned to it's opposite so that it might turn that opposite. That's how you take the measure of a trend.
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rffrydr
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| Posted: Sun Jan 30, 2011 9:41 am Post subject: |
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It was here, with the Medicis, the fiction of money brought forth through the trade in art "interest," that allowecthe western world turn decisively away from the rest of the world. How did the muslims of the enlightened Caliphate get left behind?
The Corporation in the muslim world: "No body to punish, no soul to condemn." That pretty much says it all for me.
http://www.economist.com/node/18008627
When I was in "enlightened" Malaysia in 1997, during the internet boom, I recall this struggle with change playing out in the daily papers. Indeed the concept of change with societies regimented by "the word of god" in most every aspect was the challenge. We got sukuk bonds and the emerald city in Dubai--and we brought with it the same social structures for the past 500 years.
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rffrydr
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| Posted: Sat Jan 02, 2010 11:29 am Post subject: |
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And the one before that:
http://m.ft.com/cms/s/0/4b44d88e-ef39-11de-86c4-00144feab49a.html?catid=171&SID=de416a216a3d114f5cd65681b5a9e3ce
| Quote: | | For two or three hundred years, beginning at the start of the fifth century, the economy of Britain reverted to levels not experienced since well before the Roman invasion of AD 43. The most startling features of the fifth-century crash are its suddenness and its scale. We might not be surprised if, on leaving the empire, Britain had reverted to an economy similar to that which it had enjoyed in the immediately pre-Roman Iron Age. But southern Britain just before the Roman invasion was a considerably more sophisticated place economically than Britain in the fifth and sixth centuries: it had a native silver coinage; pottery industries that produced wheel-turned vessels and sold them widely; and even the beginnings of settlements recognisable as towns. Nothing of the kind existed in the fifth and sixth centuries; and it was only really in the eighth century that the British economy crawled back to the levels it had already reached before Emperor Claudius's invasion. It is impossible to say with any confidence when Britain finally returned to levels of economic complexity comparable to those of the highest point of Roman times, but it might be as late as around the year 1000 or 1100. If so, the post-Roman recession lasted for 600-700 years. |
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rffrydr
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