Microcredits and their precursors in the age of modernity
| Authors | |
|---|---|
| Year of publication | 2016 |
| Type | Article in Periodical |
| Magazine / Source | European Journal of Science and Theology |
| MU Faculty or unit | |
| Citation | |
| Field | History |
| Keywords | charitable loans; interest; microcredit |
| Description | Clerical and secular charitable loans have existed within the western cultures for millennia, and they gradually became a major starting point for the evolution of the savings bank in Europe and the developing world. The author discusses the increasing differentiation of charitable money funds in the modern period, and he also analyses their dynamical rise reflected in both the growing demand on the part of the clients and the prominent bids on the part of various governmental and non-governmental organisations. Microcredits, or the provision of petty loans to encourage entrepreneurial activities, constitute a viable, well-recognised and widely practised form of charity worldwide. Even though this province on the boundary between finance and philanthropy is not entirely devoid of controversy, it can be considered beneficial and indispensable, as documented by is long and diversified history. |
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