A History of Capitalism as the Conflict Between Labor and Usury
In his latest book E. Michael Jones presents a brilliant and original view of the history of Western civilization from the point of view of the economy, and the system that dominates it in modern times: Capitalism.
Distancing himself from socialism and neoliberalism, which he regards as two branches of the same materialistic trunk, Jones presents the history of Capitalism as a conflict between the sanctioned by usury and human labor, which is the primary source of all value.
Usury is the basis of the entire modern banking system, the origin of which dates back to the fifteenth and sixteenth centuries. It allows you to earn profits without any work input. This parasitic mechanism is not only a source of fortunes and a guarantee of power, but also the cause of the collapse of the modern world. The only alternative for him is, according to Jones, the Catholic vision of the economy, implemented in Europe in pre-capitalist times.
"A compelling historical exploration that exposes the fundamental flaws of Capitalism: unjust wages and usury. An entertaining read."
-Anthony Santelli II
Ph.D., CEO, AES Capital and Co-Founder, Catholic Finance Association.
"This is a fantastic book. It is the most thorough economic history of the West. If you want to know the origin of our economic and social ills you must read this book.”
-Dr. Brian M. McCall
Editor of Catholic Family News, Orpha and Maurice Merrill Professor in Law, University of Oklahoma, and Author of The Church and the Usurers.
"This is a powerful collection of case studies from almost a millennium of economic history. It examines the human dynamics of the winners and losers of capitalism through its triumphal march to the present. It is good history with enough reflection on theory to provide a crisp critique of economics and its moral connections."
"Here’s the message I took away from Barren Metal: 'Banking is magic that works' (p. 128). I think that’s a fascinating insight, phrased in a sublime way. It really speaks to where we are today in the world, with central banks — including the Federal Reserve — exercising so much power over most of the globe. ... A competing phrase for summing up Barren Metal could be 'Capitalism is state-sponsored usury.' ... From the fall of Rome, th[e] Catholic ban on usury was enforced because the Church treated economics 'as if God mattered.' According to this doctrine, God gave men faith and reason to pursue success in this life, but as the Middle Ages gave way to succeeding eras, God began to matter less and less, and Jews moved in to fill the void. Jones’ lengthy description of this epic transformation is fascinating, allowing Jones to once again show the incredible breadth of his knowledge. The flip side of this unhealthy usurious equation is one that abides by the moral law and puts labor above other economic systems, for 'there is only one use that will turn credit into wealth, and that is the application of labor.' Jones’ views are militantly aracial, by which I mean he is insistent that race is not a factor in the struggle between Jewry and the rest of humanity. Rather, in his view, it is a religious story in which God plays the leading role and the Catholic Church is the agent of God’s work on Earth.”