A newly published study in MIT’s The Review of Economics & Statistics reveal that Jews, who became Europe’s moneylenders in the 16th century, established the first banks, financed int’l trade, and established letters of credit, all leading to better economies today.
By Ynet
Over half a millennium may have passed, but regions that did not expel Jews during the Renaissance era have measurably better economies than those that did.
Jews became moneylenders in the 16th century
Throughout Europe, regions expelled Jewish communities from medieval times and into the Renaissance. In a new study published in MIT’s The Review of Economics and Statistics, Professor Luigi Pascali found that cities that permitted Jewish communities to thrive have GDPs of up to 10 percent higher than those that expelled them. Continue Reading »
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