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This book examines the ways in which usury was perceived and portrayed as it rose to popularity in Renaissance England, taking into account the works of key literary figures of this period, including Milton and Shakespeare.
In a time before large banking systems, and with paper money just in its infancy, money during the Renaissance meant coinage (mainly gold and silver) and local credit systems. These monetary forms had a significant influence on the ways in which money was understood throughout the period, and shaped discussions on such topics as the meaning of monetary value, the economic, political, religious, and aesthetic uses of coinage, the moral implications of usury and credit systems, and the importance of reputation, both at the state and individual levels. Crucial to the transformation of ideas about money in the period was the growing awareness that the individuals, up to and including the monarch, were powerless to overcome the market forces that determined value and directed the movement of goods and money. Drawing upon a wealth of visual and textual sources, A Cultural History of Money in the Renaissance presents essays that examine key cultural case studies of the period on the themes of technologies, ideas, ritual and religion, the everyday, art and representation, interpretation, and the issues of the age.
William Muggins, an impoverished but highly literate weaver-poet, lived and wrote in London at the turn of the seventeenth century, when few of his contemporaries could even read. A Weaver-Poet and the Plague’s microhistorical approach uses Muggins’s life and writing, in which he articulates a radical vision of a commonwealth founded on labor and mutual aid, as a gateway into a broader narrative about London’s “middling sort” during the plague of 1603. In debt, in prison, and at odds with his livery company, Muggins was forced to move his family from the central London neighborhood called the Poultry to the far poorer and more densely populated parish of St. Olave’s in Southwark. It was here, confined to his home as that parish was devastated by the plague, that Muggins wrote his minor epic, London’s Mourning Garment, in 1603. The poem laments the loss of life and the suffering brought on by the plague but also reflects on the social and economic woes of the city, from the pains of motherhood and childrearing to anxieties about poverty, insurmountable debt, and a system that had failed London’s most vulnerable. Part literary criticism, part microhistory, this book reconstructs Muggins’s household, his reading, his professional and social networks, and his proximity to a culture of radical religion in Southwark. Featuring an appendix with a complete version of London’s Mourning Garment, this volume presents a street-level view of seventeenth-century London that gives agency and voice to a class that is often portrayed as passive and voiceless.
In Shakespeare's England, credit was synonymous with reputation, and reputation developed in the interplay of language, conduct, and social interpretation. As a consequence, artful language and social hermeneutics became practical, profitable skills. Since most people both used credit and extended it, the dual strategies of implication and inference—of producing and reading evidence—were everywhere. Like poetry or drama, credit was constructed: fashioned out of the interplay of artifice and interpretation. The rhetorical dimension of economic relations produced social fictions on a range of scales: from transitory performances facilitating local transactions to the long-term project of maintaining creditworthiness to the generalized social indeterminacy that arose from the interplay of performance and interpretation. Fictions of Credit in the Age of Shakespeare examines how Shakespeare and his contemporaries represented credit-driven artifice and interpretation on the early modern stage. It also analyses a range of practical texts—including commercial arithmetics, letter-writing manuals, legal formularies, and tables of interest—which offered strategies for generating credit and managing debt. Looking at plays and practical texts together, Fictions of Credit argues that both types of writing constitute “equipment for living”: practical texts by offering concrete strategies for navigating England's culture of credit, and plays by exploring the limits of credit's dangers and possibilities. In their representations of a world re-written by debt relations, dramatic texts in particular articulate a phenomenology of economic life, telling us what it feels like to live in credit culture: to live, that is, inside a fiction.
As readers of classic Russian literature know, the nineteenth century was a time of pervasive financial anxiety. With incomes erratic and banks inadequate, Russians of all social castes were deeply enmeshed in networks of credit and debt. The necessity of borrowing and lending shaped perceptions of material and moral worth, as well as notions of social respectability and personal responsibility. Credit and debt were defining features of imperial Russia’s culture of property ownership. Sergei Antonov recreates this vanished world of borrowers, bankrupts, lenders, and loan sharks in imperial Russia from the reign of Nicholas I to the period of great social and political reforms of the 1860s. Poring over a trove of previously unexamined records, Antonov gleans insights into the experiences of ordinary Russians, rich and poor, and shows how Russia’s informal but sprawling credit system helped cement connections among property owners across socioeconomic lines. Individuals of varying rank and wealth commonly borrowed from one another. Without a firm legal basis for formalizing debt relationships, obtaining a loan often hinged on subjective perceptions of trustworthiness and reputation. Even after joint-stock banks appeared in Russia in the 1860s, credit continued to operate through vast networks linked by word of mouth, as well as ties of kinship and community. Disputes over debt were common, and Bankrupts and Usurers of Imperial Russia offers close readings of legal cases to argue that Russian courts—usually thought to be underdeveloped in this era—provided an effective forum for defining and protecting private property interests.
This book provides new insights into how theatre responded to changing economic practices and structures. It reviews discourses on household management and commerce to create a rich context for the discussion of socio-economic actions and transactions in Macbeth, Othello, and Timon of Athens, as well as in city comedies by Ben Jonson and Thomas Middleton. By approaching discourses on economy and commerce as complementary, the book opens up a diverse field of socio-economic practices, including the gendered division of duties in the household, new modes of valuation, and evolving credit instruments. Theatre provides unique access to this field. In contrast to practical and policy-oriented discourses, it addresses socio-economic change and its vicissitudes in a spirit of experimentation, testing the ethical limits of socio-economic action and accustoming audiences to the demands of a changing socio-economic reality. Theatre thus offers a vital contribution to the prehistory of political economy. On the London stages, self-interest emerges as a key motive of socio-economic action, and theatre playfully explores its ambiguous status as a partly rational and partly excessive force that has a new ordering function but also creates social conflict. At the same time, by staging the contradictory demands of ethics and efficiency in economic decision-making, early modern plays offer access to a changing understanding of prudence that has a Machiavellian touch: by aligning with the pursuit of private interest, prudence sheds some of its ethical content and becomes foremost an instrumental faculty.
Sidney's Defence of Poesy—the foundational text of English poetics—is generally taken to present a model of poetry as ideal: the poet depicts ideals of human conduct and readers are inspired to imitate them. Catherine Bates sets out to challenge this received view. Attending very closely to Sidney's text, she identifies within it a model of poetry that is markedly at variance from the one presumed, and shows Sidney's text to be feeling its way toward a quite different—indeed, a de-idealist—poetics. Following key theorists of the new economic criticism, On Not Defending Poetry shows how idealist poetics, like the idealist philosophy on which it draws, is complicit with the money form and with the specific ills that attend upon it: among them, commodification, fetishism, and the abuse of power. Against culturally approved models of poetry as profitable—as benefiting the individual and the state, as providing (in the form of intellectual, moral, and social capital) a quantifiable yield—the Defence reveals an unexpected counter-argument: one in which poetry is modelled, rather, as pure expenditure, a free gift, a net loss. Where a supposedly idealist Defence sits oddly with Sidney's literary writings—which depict human behaviour that is very far from ideal—a de-idealist Defence does not. In its radical reading of the Defence, this book thus makes a decisive intervention in the field of early modern studies, while raising larger questions about a culture determined to quantify the 'value' of the humanities and to defend the arts on those grounds alone.
In his compelling new book Ian Smith addresses the pernicious influence of systemic whiteness on our interpretation of Shakespeare's plays. Unmissable reading for students and scholars of drama, cultural and early modern studies.
Digital Milton is the first volume to investigate John Milton in terms of our digital present. It explores the digital environments Milton now inhabits as well as the diverse digital methods that inform how we read, teach, edit, and analyze his works. Some chapters use innovative techniques, such as processing metadata from vast archives of early modern prose, coding Milton’s geographical references on maps, and visualizing debt networks from literature and from life. Other chapters discuss the technologies and platforms shaping how literature reaches us today, from audiobooks to eReaders, from the OED Online to Wikipedia, and from Twitter to YouTube. Digital Milton is the first say on a topic that will become ever more important to scholars, students, and teachers of early modern literature in the years to come.
One of the most persistent, powerful, and dangerous notions in the history of the Jews in the diaspora is the prodigious talent attributed to them in all things economic. From the medieval Jewish usurer through the early-modern port-Jew and court-Jew to the grand financier of the nineteenth and twentieth centuries and contemporary investors, Jews loom large in the economic imagination. For capitalists and Marxists, libertarians and radical reformers, Jews are intertwined with the economy. This association has become so natural that we often overlook the history behind the making and remaking of the complex cluster of perceptions about Jews and economy, which emerged within different historical contexts to meet a variety of personal and societal anxieties and needs. In An Economy of Strangers, Avinoam Yuval-Naeh historicizes this association by focusing on one specific time and place—the financial revolution that England underwent from the late seventeenth century that coincided with the reestablishment of the Jewish population there for the first time in almost four hundred years. European Christian societies had to that point shunned finance and constructed a normative system to avoid it, relying on the figure of the Jew as a foil. But as the economy modernized in the seventeenth century, finance became the hinge of national power. Finance’s rise in England provoked intense national debates. Could financial economy, based on lending money on interest, be accommodated within Christian state and society when it had previously been understood as a Jewish practice? By projecting the modern economy and the Jewish community onto each other, the Christian majority imbued them with interrelated meanings. This braiding together of parallel developments, Yuval-Naeh argues, reveals in a meaningful way how the contemporary and wide-ranging association of Jews with the modern economy could be created.