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Is Greed Good? A Catholic Perspective on Modern Usury

BYU Journal of Public Law, Volume 27, Issue 1, Fall 2012, pgs. 185-227

44 Pages Posted: 27 Aug 2012 Last revised: 7 Apr 2013

William Woodyard

West Virginia University; Florida State University - Department of Risk Management/Insurance, Real Estate and Business Law

Chad G. Marzen

Florida State University

Date Written: August 20, 2012

Abstract

In an era of increasing financial complexity, the Catholic legal and intellectual tradition offers not only a symbolic moral witness to the policy debates concerning lending, but a voice that offers real solutions to the problem of modern usury. The duty of those in the economic world to safeguard the weaker, more vulnerable parties in society as articulated by Pope Benedict XVI in Caritas in Veritate can best find its expression in vigorous adherence to the unconscionability doctrine of contract law. In addition, the Catholic legal and intellectual tradition promotes microcredit lending programs and community credit unions as strong economic alternatives to modern usury.

Suggested Citation

Woodyard, William and Marzen, Chad G., Is Greed Good? A Catholic Perspective on Modern Usury (August 20, 2012). BYU Journal of Public Law, Volume 27, Issue 1, Fall 2012, pgs. 185-227. Available at SSRN: https://ssrn.com/abstract=2136660

William Woodyard (Contact Author)

West Virginia University ( email )

PO Box 6025
Morgantown, WV 26506
United States

Florida State University - Department of Risk Management/Insurance, Real Estate and Business Law

College of Business
Tallahassee, FL 32306
United States

Chad G. Marzen

Florida State University ( email )

College of Business
Tallahassee, FL 32306
United States

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