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season one

Episode 11: Sin and Profit

A portrait of bankers at a traditional banking table. Source unknown.

We take a step back from the life of Giovanni di Bicci dei Medici to look at banking, commerce, and religious and legal attitudes about usury and luxury in Renaissance Florence. How did the Medici and other Florentine dynasties prosper in banking when loans with interest were considered a grave sin and a form of theft? 

Transcript

I decided to take a brief break from telling the story of Giovanni di Bicci’s life to give a little context to exactly how the Medici made their money. Let’s talk capitalism. Or proto-capitalism.