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The Standard Case

Revisionist History

Maritime Insurance Is Just Another Kind of Captain, Right?

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The jesuits looked for similarities between usury and maritime insurance. They asked, is the premium paid for maritime insurance more like something you would pay a loan shark or more like the money you would pay for a good captain? Jesuits: Insurance doesn't look that much like usury. It looks like the captain. Do you see how brilliant that is? Everyone was going in circles around this question. And principles weren't helping. One side shouting, pope gregory the ninth ruled on in 12 87. The other side accusing the church of being stuck in the past. There are pirates out there. Round and round and round. Let's just say, stop.

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