Jimmy Erdmier

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Throughout the Middle Ages, Christians could generally not legally charge interest to other Christians. This is one reason why Jews played a large part in the development of trade, as they lent money for business ventures and financed voyages. But Jews were also the holders of the loans that debtors sometimes could not repay. Many historical instances of violence against Jews were driven by debt crises.
A Template for Understanding Big Debt Crises
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