It does seem that predatory lending has been around since the dawn of civilization. The Ancients had the tradition of debt jubilees, as a way to reset the system, but the modern world has released pressures though other means, such as colonialism, industrialization and wars. A good source on the history of finance is Michael Hudson. Here is an interesting series of interviews with him, on Naked Capitalism;
I do think it’s part of an evolutionary process, as money and finance are the social equivalent of the body’s circulation system, like government is of its central nervous system. We’ve had a fairly long history of government as private and hereditary, but have come to recognize it doesn’t work as well as government as a public utility and that appears to be a low bar. Now banking is having its; “Let them eat cake.” moment.
It’s like slavery. After awhile we evolve far enough, that it just isn’t accepted. Though predatory lending and slavery have a long relationship……
