economics.

Melisa 2022-04-21 09:02:57

Merchant of Venice
collateral: present value and a vocabulary of finance.
Not just love and anti-Semitism, the core story is Shakespeare's commentary on the economy, in fact he was a great economist.
Sherlock was ultimately willing to lend Bassanio the money because his collateral was more important than the principal, which was Antonio's pound of flesh. Also the first contract.
The reason why Portia's father used three boxes of gold, silver and lead to test the suitor was the risk and reward that Shakespeare wanted to express. High risk high reward. When Bao gave the ring to Ba, he said that my ring represented my love, which was the second contract.
When Ba spent her best efforts to raise 3,000 gold coins, she could come up with 6,000, 12,000 or even 36,000, and she was willing to give Sherlock not to have that pound of meat.
When Sherlock's daughter exchanged the ring for the monkey, he was very angry and told me that I wouldn't change it for a bunch of monkeys. It can be seen that he never breaks his promise and is honest and trustworthy, unlike others and his daughter.
His servant said that as Christians soared, pork prices had to follow. After the Jewish daughter became a Christian, she could eat pork. As the number of Christians increased, the demand for pork increased, and the price of pork increased.
Venice was the largest commercial city in the world at the time, and it was impossible not to keep its promises. If you refuse me, the law will be damned. Sherlock said, a contract is a contract, you humiliated me, made me suffer all kinds of humiliation, and I also have feelings. Others wanted him not to have that pound of meat. At this time, the judge, that is, Bao said, the guarantee contract is the cornerstone of the entire city, and it must not set a precedent to break the contract. But when it comes to dying, what should we do at this time? Agreements must be secured, but only good deals can be secured, the judge said. So she thinks what's wrong with the agreement. She did not say that the principal should be reduced from three thousand to one thousand, but said that the contract was not signed at all. The interest rate is right, the amount is right, and the collateral is wrong. She said the correct collateral should be a pound of meat, without mentioning a drop of blood. Therefore, what the state intervenes is not interest rate changes, not principal changes, but collateral changes.
When the end of the play wanted to repay the judge, the judge said that he wanted a ring instead of money. Ba said no, but finally gave it. So this is a breach of contract.
So the whole script is a matter of contract. Sometimes collateral can go wrong.

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Extended Reading

The Merchant of Venice quotes

  • Bassanio: [confirming her love to him] Like one of two contending in a prize That thinks he has done well in people's eyes Hearing applause and universal shout Giddy in spirit, still gazing in a doubt As doubtful whether what I see be true Until confirmed, signed, ratified... by you .

    Portia: You see me, lord Bassanio, where I stand, such as I am. Though for myself alone I would not be ambitious in my wish to wish myself much better, yet for you, I would be treble twenty times myself. A thousand times more fair, ten thousand times more rich, that only to stand high in your account, I might in virtues, beauties, livings, friends, exceed account. But the full sum of me is sum of something which, to term in gross, is an unlessoned girl, unschooled, unpractised. Happy in this, she is not yet so old that she may learn. Happier than this, she is not bred so dull that she may learn. Happiest of all, is that her gentle spirit commits itself to yours to be directed as by her governor, her lord, her king. This house, these servants, and this same myself are yours .

  • Portia: [disguised as Balthasar] Do you confess the bond?

    Antonio: I do.

    Portia: Then must the Jew be merciful.

    Shylock: On what compulsion must I? Tell me that.

    Portia: The quality of mercy is not strained, it droppeth as the gentle rain from heaven upon the place beneath. It is twice blessed - it blesseth him that gives and him that takes. 'Tis mightiest in the mighty. It becomes the throned monarch better than his crown. His sceptre shows the force of temporal power, the attribute to awe and majesty wherein doth sit the dread and fear of kings. But mercy is above this sceptred sway. It is enthroned in the heart of kings. It is an attribute to God himself and earthly power doth then show likest God's when mercy seasons justice. Therefore, Jew, though justice be your plea, consider this. That in the course of justice, none of us should see salvation. We do pray for mercy and that same prayer doth teach us all to render the deeds of mercy. I have spoke thus much to mitigate the justice of your plea.