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Capital in the Fifteenth Century: A Study of Interest Rates in Stockholm during the Late Middle Ages

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  • Rindborg, Gabriel V

Abstract

Interest rates are central to understanding economic development and conditions, not just in the present, but throughout history. Yet surprisingly little research has focused on medieval interest rates. This essay demonstrates, through an analysis of Stockholm’s jordeböcker (land registers) and tänkeböcker (court records) from 1420 to 1520, that it is entirely possible to calculate interest rates from these sources, and argues that further research into historical interest rates is essential for advancing materialist historiography. The study reveals a consistent norm of 5% interest within the source material, rates that far outpaced inflation during the period. This finding reinforces the view that capital, whatever the prevailing ideological constraints, has an inherent tendency toward concentration.

Suggested Citation

  • Rindborg, Gabriel V, 2026. "Capital in the Fifteenth Century: A Study of Interest Rates in Stockholm during the Late Middle Ages," SocArXiv 2sbvc_v1, Center for Open Science.
    • Handle: RePEc:osf:socarx:2sbvc_v1
    DOI: 10.31219/osf.io/2sbvc_v1
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