Part 4/7:
Medieval economic practices were framed under the lens of Christian ethics, which sought to curtail greed and promote fairness. Unlike the unrestrained materialism heralded in modern capitalism, the medieval economy exhibited principles focused on stability and the common good.
Usury, or the practice of lending money at high interest rates, was condemned, asserting that money should serve social needs rather than enrich lenders. This notion forced people to view commerce not just as a transaction but as a communal responsibility. The idea advocated by thinkers such as St. Thomas Aquinas emphasized fair pricing and equity in trade, reinforcing the notion that excessive profit from exploitation was unjust.