ABSTRACT
Religious teachings placing emphasis on ethical norms have been unable to prevent the spread of interest-bearing debts. The transformation identified in the modes of economic relations since ancient times has produced different types of interests. To better analyze this process, it is necessary to consider the concepts of money and debt. The Hammurabi codes, referring to vast regulations on loan transactions and underscoring that interest-bearing debts are part of economic life, seek to provide some legal protection for the debtors, strike a balance for the loaners by preventing monopolization, and ensure effective distribution of economic resources. The governments in Ancient Mesopotamia had to rely on strong measures to prevent the spread of interest-bearing debts, whereas religious authorities, holding huge control over the economic life, turned the practice of interest into a tool of exploitation by relying on religious arguments. In ancient times, the religious authorities were able to maintain hegemony over the economy due to the heavy economic burden associated with the accrued interest over society.
