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what was the common understanding of 'interest' in the ancient near east compared to israel?

The passage, plainly, with room to sit with it.

Exodus 22:25

“If you lend money to any of my people with you who is poor, you shall not be to him as a creditor; neither shall you charge him interest.”

This verse is part of the Book of the Covenant (Exodus 20:22-23:33), which outlines laws given to Moses for the Israelites after their exodus from Egypt. It addresses various aspects of civil and social life, including regulations for lending, aiming to establish a just society under God's law.

What does it mean to create an economy that prioritizes human well-being over profit?

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Read alongside it

Leviticus 25:35-37
Expands on the prohibition of charging interest to fellow Israelites, especially those who become poor.
Deuteronomy 23:19-20
Distinguishes between lending to an Israelite brother (no interest) and a foreigner (interest allowed), highlighting community principles.
Psalm 15:5
Lists not lending money at interest as a characteristic of one who dwells with God, connecting economic practice to piety.

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