How do the concepts of credit and interest, as incorporated into banking, and money lending, help to stimulate economic growth?Discuss

This is related to order 541545.

As the world continues to struggle to find its footing amid rising unemployment, constricted credit, and crumbling banks and industries — raising questions about how the economic system collapsed — PBS presents Niall Ferguson’s ASCENT OF MONEY.

This ground-breaking six-part series examines the creation of the economic system by taking viewers on a global trek through the history of money.

Watch Episode 2 of the video and answer the following questions

How do the concepts of credit and interest, as incorporated into banking, and money lending, help to stimulate economic growth?

Give one example of how you think the availability of credit may have stimulated growth in medieval times. Then give one example of how it works today and explain why modern financial markets are different from those in medieval times.

DocuDeck. (2013, March 17).

The ascent of money – Human bondage (Episode 2) [Video]. YouTube. https://www.youtube.com/watch?v=FDbPikepkiI

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