Bertram Schefold

　　Senior professor at economics at Frankfurt University，Honor Chairman of the History of the History of European Economic Thought。He has participated in the compilation of the historical research version (Mega)，In the history of economic thought、Capital theory、Published dozens of books in the fields of environmental economics，Published more than 300 papers，and wrote many academic comments。

I'm glad to be able to participate in this forum。Today，I will talk about the evolution of the economic ideological history of Europe and China about credit，and connect it with the concept of land preservation，Because land preservation is usually related to credit relations。

Credit is the beginning of the history of Western economic thought。But the Bet365 lotto review controversy of usury in Western history is not clear for European development，When you realize that credit instruments and interest are useful，Businessman、Lawyers and theologians have to controversy when the credit tools can help develop，This has become one of the origin of modern economic theory。One of the most confusing questions is，Whether the interest is allowed to be allowed，Because the lender can use their money to make a profit for themselves。Finally explore this problem，Where does the profit involved in profit，And this is the true source of paying interest，Political economics was born。Unreasonable fear of usury，It also promoted the development of rational economics。At the same time，The controversy of the advantages and disadvantages of usury in ancient China can be described as unsuccessful，Because of all levels in China，The collection of interest is acceptable，In principle, not questioned。Therefore，Western theoretical Bet365 app download discussion on interest collection and usury，Mathematical analysis of the reason to collect reasons for interest，Promoting the development of related theories。The economic development of ancient China has not been hindered by prejudice to usury，Interest theory also develops slowly。

We take the theory of German jurist Caspa Clock as an example，Analysis of the relationship between European credit and land insurance。His special form that he pays special attention to land insurance, is the ancient Rome's classic quality income contract，regards it as a means to avoid usury。According to this contract，The borrower mortgage a fertile land to the creditors，The creditors will have the right to use this land，Until the debtor settled the debt。The right to use the land can replace any interest claims proposed by the creditor，It is enough to all or part of the amortization debt，If it is only partial amortization，The debtor can recover the land and pay the difference，bet365 Play online games No clear interest calculation of interest。But because of the lack of rational computing ability，Clock cannot determine whether this contract belongs to usury。Subsequent Leibnitz, von Floren Kur and others use mathematical methods，Eliminate simple condemnation of interest collection behavior，Accept the legal interest rate，and calculated on the compound interest and exact balance points and even excess interest rates。

Ancient Chinese Land Pool is a representative example of land preservation right。Land pawn has been widely known since the Tang Dynasty，And can further develop in the Song Dynasty。According to Clock's theory，Ceremony benefits contract is formed to avoid usury，Therefore, it is directly related to the long tradition of condemning interest charging.。The opposite of this，Land pawn as a specific form of land transactions，It does not strongly condemn the charging of interest from the moral aspect。Its operating mode is roughly: the debtor'bet365 live casino games s right to operate and dispose of Dian Tian by transferring the rights of Dian Tian，Get a certain number of loans from creditors，Later, you can redeem its land rights and interests by setting off debt。Codeer is the creditor，You can cultivate yourself，You can also rent a Datian，Even the rental person (that is, the debtor)。Same as a contract with the quality income，All land operating income obtained by the creditor within the agreed period can be regarded as the interest income generated by the loan。other，Land pawn stipulates that family members and neighbors have the right to purchase priority。In ancient China，Agriculture and agriculture plays an important role in maintaining family livelihoods，The distinction between the rights of fields and the bottom of the field seems to be good for the family。The form of land preservation in ancient China cannot completely get rid of irrational，This is very different from the ownership of the land preservation bet365 best casino games of Europe in the same period。

Visible，Compare the land pawn and classic income contract，Help to capture the East and the West by their respective institutional arrangements、Legal framework and economic ideological traditions bring different rational forms of evolution。In other words，This difference reflects the different self -expression methods of East and West in economic issues。In a sense,，About whether we are completely rational，or whether the sociological factors will affect the results of the contract arrangement are still a hot topic。