HOW INTEREST RATES WERE SET, 2500 BC-1000 AD: Máš, tokos and foenus as Metaphors for Interest Accruals

in Journal of the Economic and Social History of the Orient
Restricted Access
Get Access to Full Text
Rent on DeepDyve

Have an Access Token?



Enter your access token to activate and access content online.

Please login and go to your personal user account to enter your access token.



Help

Have Institutional Access?



Access content through your institution. Any other coaching guidance?



Connect

Abstract

The earliest interest rates in Mesopotamia, Greece and Rome were set not "economically" to reflect profit or productivity rates, but by the dictates of mathematical simplicity of calculation. The interest that was "born" calendrically did not take the form of young animals, but rather of the "unit fraction," the smallest unit fraction in each of the above fractional systems: 1/60th in the Mesopotamia, 1/10th in Greece, and 1/12th in Rome. The "birth" or "calf/kid" metaphor for interest thus referred to "baby fractions", not literally baby animals.

HOW INTEREST RATES WERE SET, 2500 BC-1000 AD: Máš, tokos and foenus as Metaphors for Interest Accruals

in Journal of the Economic and Social History of the Orient

Sections

Information

Content Metrics

Content Metrics

All Time Past Year Past 30 Days
Abstract Views 14 14 6
Full Text Views 72 72 58
PDF Downloads 3 3 1
EPUB Downloads 0 0 0