Episode 22. The Financial Frameworks of Ancient India: Usury, Banking, and Coinage

History of Money, Banking, and Trade

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How did ancient civilizations manage to thrive without modern conveniences? Join me, Mike D, as we uncover the secrets behind the prosperity of Ancient India.
Ever wondered how ancient societies organized themselves socially and politically? Our exploration continues with an in-depth look at the Kuru kingdom and the migration of Indo-Iranian speaking peoples. Learn about their transition from nomadic tribes to agriculturalists, the intricate social hierarchies, and the fascinating fact that their electoral process included women. We'll also touch upon the kingdom's economic strategies and the stories behind their rise and eventual decline, paving the way for the Panchala kingdom and the Mahajanapadas coalition.
The evolution of financial systems is no less intriguing. Delve into the history of usury and banking practices in ancient India, where initially condemned practices became regulated professions. Discover the detailed legal frameworks that governed loans, interest rates, and debt recovery, and how the caste system influenced financial transactions. Finally, we dive into the introduction of coinage during the Nanda period, comparing it to the existing debt systems, and wrap up with a look at Alexander the Great's campaign in India, his strategic alliances, and the mutual respect between him and Indian leaders like Porus. Tune in for a comprehensive journey through the early economic and social landscapes of ancient India.

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Chapters

1. Episode 22. The Financial Frameworks of Ancient India: Usury, Banking, and Coinage (00:00:00)

2. Money and Trade in India (00:00:03)

3. Social Structures and Cultural Progression (00:17:12)

4. Ancient Indian Usury and Banking Laws (00:31:41)

5. Coinage, Debt, and Alexander's Conquests (00:43:59)