Luther and the scholastic ethics of economics: a comparative study (Th.D. Dissertation)

This study highlights Luther's ethical commentary on economic matters, concentrating upon normative attitudes toward money, property, price and interest. The purpose is to illustrate the traditions with which Luther's views conform to or deviate from. Luther did not follow the newly formulated economic views of some early modern theologians and philosophers. According to Luther, private property is not a freedom-right in the modern sense (Gerson), but a task given by God as the ultimate owner. The doctrine of just price and the prohibition of usury were the main themes of the Catholic economic ethics in the Middle Ages. The strong prohibition of usury traditionally pertained only to consumption loans, and remained largely unobtrusive to the economy. Luther claims that usury occurs whenever one gains money without work and risk.