Abstract
Some individuals and businesses have become increasingly dependent upon multiple financing sources for economic survival. Certain currently used lending policies, such as interest-only loans and revolving credit lines, may encourage borrower dependency on the lender. The paper reviews religious teachings, specifically religious safeguards on lending identified in primary Jewish sources including the Tanach and rabbinic teachings, and finds that the safeguards in place centuries ago may still be relevant for lending practices today to both protect the borrower while still providing a profitable means to help borrowers.
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Acknowledgement
The author thanks Rabbis Michael Paley and David Rosenberg and the participants at the 12th Annual International Conference Promoting Business Ethics, and in particular Joshua Fogel, for their useful comments.
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Ellen J. Lippman is an Associate Professor of Accounting at the Robert B. Pamplin School of Business Administration, University of Portland. She is a past fellowship recipient, awarded by the Wexner Heritage Foundation. She has published in Transportation Law Journal, The Logistics and Transportation Review, AICPA Professor-Practitioner Cases, and the Journal of Accounting & Business Research. Her recent accounting research considers accountant culpability during the Holocaust.
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Lippman, E.J. Biblical Safeguards and Traditions as Potential Guidance for the Lending of Monies. J Bus Ethics 78, 109–120 (2008). https://doi.org/10.1007/s10551-006-9325-9
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DOI: https://doi.org/10.1007/s10551-006-9325-9