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The Attitude towards Usurers and Interest in the Nineteenth-Century Ottoman Bulgaria. The Orthodox Perspective

Author

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  • Hristiyan Atanasov

    (State University of Library Studies and Information Technologies, Sofia, Bulgaria)

Abstract

This article delves into a prevalent question within the realms of economic history and theory: How were usury and interest perceived? It primarily explores the religious and moral viewpoints concerning lending with interest from the vantage point of Orthodox Christianity – the dominant religious denomination in Ottoman Bulgaria. The article provides both direct and indirect evidence of the strong religious aversion to usury during the studied period, an attitude that significantly influenced the mindset of the populace. Furthermore, this research examines indications of evolving perspectives over time. In the nineteenth century, the predominant moral disapproval of usury began to wane, influenced by Western liberalism and rationalism. Nonetheless, it remained the dominant and defining perspective.

Suggested Citation

  • Hristiyan Atanasov, 2023. "The Attitude towards Usurers and Interest in the Nineteenth-Century Ottoman Bulgaria. The Orthodox Perspective," Proceedings of the Centre for Economic History Research, Centre for Economic History Research, vol. 8, pages 45-59, November.
    • Handle: RePEc:ceh:journl:y:2023:v:8:p:45-59
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    References listed on IDEAS

    as
    1. Nikolay Nenovsky & Pencho Penchev, 2015. "Reconstructing Eclecticism: Bulgarian Economic Thought in the Ottoman Empire in the Nineteenth Century," History of Political Economy, Duke University Press, vol. 47(4), pages 631-664, December.
    2. Pencho D. Penchev, 2016. "Defining Economic Nationalism on the Basis of 19th Century Bulgarian Experience," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 24(1), pages 83-104.
    3. Inalcik, Halil, 1969. "Capital Formation in the Ottoman Empire," The Journal of Economic History, Cambridge University Press, vol. 29(1), pages 97-140, March.
    4. Nikolai Nenovski & Pencho Penchev, 2014. "The Birth of Economic Thought and Specialized Economic Press among the Bulgarians in the Ottoman Empire in the XIX Century (A Mediterranean Perspective)," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 93-126, February.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    interest rate; usury; religion; morality; Ottoman Bulgaria;
    All these keywords.

    JEL classification:

    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • B11 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Preclassical (Ancient, Medieval, Mercantilist, Physiocratic)

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