You have to list your policies and pitch them to a normie. What do you say?

submitted by NeoRail from self.debatealtright

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[–]NeoRail[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

I have never seen such a model before, but all of this seems pretty intuitive and common sense. It would make banking less profitable and riskier, but a lot more pro-social, in my opinion. Investment also appears more worthwhile on the whole than credit, which is probably a good thing.

Do you know if Catholics had an equivalent system too?

[–]MarkimusNational Socialist 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

They had guidelines but not an exact prescription like Sharia banking to my knowledge, obviously the Catholic anti-usury laws meant that all the banks before the jews took over banking had to operate according to the principles but I can't find an articulated specific system. When you google it you just find a bunch of articles talking about medieval banks employing similar practices to Islamic banking to make profit but not be usurious and them describing them as if they're unethical workarounds lol. I'm sure you could apply that logic to Islamic banking practices too. Seems a bit cynical, as if lending money to a business then them giving you discounts in return is the moral equivalent of enslaving a person to compound interest debt and 'repossessing' their house or something.

[–]NeoRail[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

I know that there were some powerful Italian banking dynasties like the Medici and such who were Catholic, but I have no idea how they ran their businesses. The Dutch were also prominent bankers, although that might have been an exclusively post-Reformation phenomenon.