In ancient times, debts were commonly the result of trade exchanges and loans. The Babylonians, for example, used clay tablets to record debts, a practice that facilitated trade and economic development. The famous Code of Hammurabi, enacted around 1754 BC, established clear rules regarding usury and the rights of debtors, showing a concern for economic justice. This code, with its 282 laws, not only dealt with family or criminal relations but also addressed the complex world of debts, highlighting the recognition that economic stability was crucial for social cohesion.
During the Middle Ages, debt management took on a new nuance, especially with the rise of city-states and a more formalized economic system. In this period, bankers began to play a key role. In Italian cities like Florence and Venice, changes in trade practices led to the creation of financial institutions that offered loans and facilitated commerce. However, this financial boom was also accompanied by concerns about usury, leading the Church to prohibit the charging of interest. This created tensions, and some lenders found ingenious ways to circumvent these restrictions, which in turn…