The etymology of “usury” traces back to the Medieval Latin term “usuria,” meaning “interest” or “usury,” which itself comes from the Latin “usura,” meaning “use,” “enjoyment,” or “the lending at interest.” The root word “usus,” from which “usura” is derived, translates to “use” or “usage.” Initially, the term did not inherently carry a negative connotation; it simply referred to the practice of charging for the use of money, typically in the form of interest on loans.

Historical Development

Over time, the meaning of usury evolved, particularly influenced by religious, social, and economic contexts. In many religious texts, including the Bible, the Quran, and the Torah, usury was criticized or outright prohibited, especially when it involved excessive or exploitative interest rates. This perspective influenced the term’s negative connotation, as usury came to be associated with the sin or moral wrong of charging unfair, excessive interest on loans.

In the Middle Ages, the Catholic Church condemned usury, defining it as any interest whatsoever on loans. This stance was based on the belief that money itself was sterile and should not “breed” more money. The moral and ethical debates surrounding usury significantly shaped economic practices and policies in Europe during this period.

Modern Usage

In contemporary language, “usury” generally refers to the practice of charging excessively high rates of interest that are considered unethical or illegal. The exact definition of what constitutes usury can vary by legal jurisdiction, with many countries and states establishing specific interest rate caps to protect borrowers from predatory lending practices.

The etymology of usury, with its roots in the concept of “use” or “usage,” reflects the complexity of its development over time, encompassing shifts in moral, economic, and legal interpretations of lending practices.