Book Review: Against Usury: by Robert Van de Weyer Featured

By Gamal Khattab August 31, 2024 92

 

"Against Usury" by Robert Van de Weyer is a thought-provoking and well-researched book that presents a compelling case against the practice of usury. Van de Weyer, a British author and journalist, argues that usury, which he defines as the unequal allocation of risk, is a fundamental injustice that has plagued societies throughout history.

The book is divided into six chapters, each of which explores a different aspect of usury and its implications. Van de Weyer begins by tracing the evolution of usury from ancient times to the present day, highlighting its historical and cultural significance. He then examines the economic, political, and moral aspects of usury, arguing that it is a form of exploitation that perpetuates inequality and promotes social and economic instability.

One of the strengths of the book is its accessibility. Van de Weyer writes in a clear and concise manner, making the complex topic of usury understandable to readers without a background in economics or finance. He also uses a range of historical and literary examples, from ancient Mesopotamia to modern-day financial crises, to illustrate his arguments.

The author's critique of usury is particularly effective in highlighting the ways in which it perpetuates inequality and promotes social and economic instability. He argues that usury allows the wealthy to accumulate more wealth at the expense of the poor, creating a system that reinforces socioeconomic disparities. He also examines the role of usury in facilitating financial crises, such as the global financial crisis of 2008.

While the book is written in a clear and accessible style, it is not without its limitations. Some readers may find the author's focus on the moral and philosophical aspects of usury to be overly abstract, and may be looking for more practical solutions to the problems posed by usury.

Overall, however, "Against Usury" is a valuable and timely book that challenges readers to think critically about the nature of economy and society. Van de Weyer's arguments are thought-provoking and well-researched, and his critique of usury is both compelling and persuasive.

 The Author's Argument

Van de Weyer's argument against usury is based on several key claims. He argues that usury is a form of exploitation that perpetuates inequality and social and economic instability. He also argues that usury is morally wrong, as it involves charging interest on the use of money.

As I mentioned earlier, one of the strengths of "Against Usury" is its accessibility. Van de Weyer's writing is clear and concise, making the complex topic of usury understandable to readers without a background in economics or finance. The author also uses a range of historical and literary examples, from ancient Mesopotamia to modern-day financial crises, to illustrate his arguments.

The book is well-researched, with a comprehensive bibliography and notes section that provides further reading and resources for those who want to delve deeper into the topic. Van de Weyer's arguments are also well-supported by evidence, including data on the impact of usury on poverty and inequality.

One of the most compelling aspects of the book is its critical examination of the role of usury in facilitating financial crises, such as the global financial crisis of 2008. Van de Weyer argues that usury allowed banks to create elaborate financial instruments and deceive investors about the true value of their investments, leading to a massive collapse in the financial system.

The author also explores the ways in which usury has been used to exercise power and control over others, particularly in colonial and imperial contexts. He examines the ways in which usury was used to exploit indigenous populations and other marginalized groups, and argues that this has had lasting impacts on their economic development and social status.

Overall, "Against Usury" is a thought-provoking and well-researched book that presents a compelling case against the practice of usury. Van de Weyer's arguments are well-supported by evidence, and his critique of usury is both compelling and persuasive. The book is a valuable resource for anyone interested in economics, social justice, or financial history, and is an essential read for anyone who wants to understand the nature of economy and society.

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