How Pawnshops Can Help The Economy


Saint James of the Marche promoted the Mount of Piety, an early pawnshop, in the late Middle Ages to give the people a break. Think the economy sucks in our time? Don’t even think about making a comparison to 1400s-Europe. You’ve got rampant disease, unbridled corruption, and kings that invaded other countries on a weekend. Folks were having a hard time with bank loans. These shops took your heirlooms and paid you no more than two thirds the value at a reasonable rate. They were funded by charitable merchants, aristocrats and guilds. Customers got cash without a fuss. So the top One Percent was really joined at the hip to the Ninety-Nine Percent. It’s a relationship that modern protesters really don’t understand. Want to overhaul the system? Don’t get so messy. Pick up some of the old ways and start again. Nothing wrong with chewing on a little history.


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