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This volume presents Martin Luther’s contribution to the modern economic sciences, providing a detailed introduction and revised translation of his major pamphlet on economic matters, ‘On Commerce and Usury’ (‘Von Kauffshandlung und Wucher’, 1524). In his teachings on indulgences, Luther picked up on the question of hoarding money, and was among the earliest voices in early modern Europe calling for an ‘ethical’ economics. Luther‘s work prefigured many later contributions to modern economic theory, from the mercantilists and cameralists to the German Historical School.
‘In his deeply erudite introduction, Philipp Rössner offers a vivid contextualization of Luther’s thinking on how commerce should be managed in order to promote a proper Christian society. Rössner not only explores Luther’s ideas on commerce and ethics from the point of view of modern economics, but he uses Luther’s perspective as a critical lens through which he examines, with great nuance and clarity, the state of economic reasoning today.’ —Carl Wennerlind, Columbia University
Acknowledgements; CRITICAL INTRODUCTION: 1. Approaching Luther; 2. Contextualizing Luther: The Powers of Time and Space; 3. Luther: Impulsive Economics; 4. The Grip of the Dead Hand: Crisis Economics for a Pre-Industrial Society? 5. Von Kauffshandlung und Wucher (1524): Analytical Summary; 6. Conclusion: What Can We Learn from Luther Today?; ON COMMERCE AND USURY (1524): Notes on the Text; On Commerce and Usury; Bibliography; Index