Chapter Or do you prefer cash? Pensions in kind in pre-modern Germany and the Low Countries
In the later Middle Ages and early modern period, many European hospitals developed into commercial retirement homes that allowed investors to pay for lifelong food and lodging. Their clients consisted mainly of elderly citizens who decided to spend their final years enjoying a pension, often living...
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| Aineistotyyppi: | Online |
| Kieli: | englanti |
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Firenze University Press
2025
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| Linkit: | ONIX_20241220_9791221503470_215 |
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| _version_ | 1869518063501574144 |
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| author | Pelzl, Ludwig Zuijderduijn, Jaco |
| author_browse | Pelzl, Ludwig Zuijderduijn, Jaco |
| author_facet | Pelzl, Ludwig Zuijderduijn, Jaco |
| author_sort | Pelzl, Ludwig |
| collection | Directory of Open Access Books |
| description | In the later Middle Ages and early modern period, many European hospitals developed into commercial retirement homes that allowed investors to pay for lifelong food and lodging. Their clients consisted mainly of elderly citizens who decided to spend their final years enjoying a pension, often living by themselves or occasionally with a spouse. Corrodies can best be understood as life annuities in kind: food and lodging were provided until the corrodian – or the longest-living spouse of a couple – passed away. Demand was so great that institutions are known to have had waiting lists or to raffle seats among potential investors. We claim that corrodies allowed investors who were looking to secure their livelihood to mitigate the risks that came with financial instruments that paid in currency. Our paper contributes to a historiography that claims that payments in kind should not be considered ‘backwards’ but rather as techniques that offered protection against the whims of the market. |
| format | Online |
| id | doab-20.500.12854ir-150584 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2025 |
| publishDateRange | 2025 |
| publishDateSort | 2025 |
| publisher | Firenze University Press |
| publisherStr | Firenze University Press |
| record_format | ojs |
| spelling | doab-20.500.12854ir-1505842025-07-21T15:44:15Z Chapter Or do you prefer cash? Pensions in kind in pre-modern Germany and the Low Countries Pelzl, Ludwig Zuijderduijn, Jaco Corrodians pensions annuities payments in kind retirement homes thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCZ Economic history thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCZ Economic history In the later Middle Ages and early modern period, many European hospitals developed into commercial retirement homes that allowed investors to pay for lifelong food and lodging. Their clients consisted mainly of elderly citizens who decided to spend their final years enjoying a pension, often living by themselves or occasionally with a spouse. Corrodies can best be understood as life annuities in kind: food and lodging were provided until the corrodian – or the longest-living spouse of a couple – passed away. Demand was so great that institutions are known to have had waiting lists or to raffle seats among potential investors. We claim that corrodies allowed investors who were looking to secure their livelihood to mitigate the risks that came with financial instruments that paid in currency. Our paper contributes to a historiography that claims that payments in kind should not be considered ‘backwards’ but rather as techniques that offered protection against the whims of the market. 2025-01-28T06:54:15Z 2025-01-28T06:54:15Z 2024-12-20T12:35:34Z 2024 chapter ONIX_20241220_9791221503470_215 2975-1195 https://library.oapen.org/handle/20.500.12657/96420 9791221503470 https://directory.doabooks.org/handle/20.500.12854/150584 eng Datini Studies in Economic History open access image/jpeg Attribution 4.0 International https://library.oapen.org/bitstream/20.500.12657/96420/1/41428.pdf Firenze University Press 10.36253/979-12-215-0347-0.15 10.36253/979-12-215-0347-0.15 2ec4474d-93b1-4cfa-b313-9c6019b51b1a 9791221503470 19 Florence open access |
| spellingShingle | Corrodians pensions annuities payments in kind retirement homes thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCZ Economic history thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCZ Economic history Pelzl, Ludwig Zuijderduijn, Jaco Chapter Or do you prefer cash? Pensions in kind in pre-modern Germany and the Low Countries |
| title | Chapter Or do you prefer cash? Pensions in kind in pre-modern Germany and the Low Countries |
| title_full | Chapter Or do you prefer cash? Pensions in kind in pre-modern Germany and the Low Countries |
| title_fullStr | Chapter Or do you prefer cash? Pensions in kind in pre-modern Germany and the Low Countries |
| title_full_unstemmed | Chapter Or do you prefer cash? Pensions in kind in pre-modern Germany and the Low Countries |
| title_short | Chapter Or do you prefer cash? Pensions in kind in pre-modern Germany and the Low Countries |
| title_sort | chapter or do you prefer cash pensions in kind in pre modern germany and the low countries |
| topic | Corrodians pensions annuities payments in kind retirement homes thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCZ Economic history thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCZ Economic history |
| topic_facet | Corrodians pensions annuities payments in kind retirement homes thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCZ Economic history thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCZ Economic history |
| url | ONIX_20241220_9791221503470_215 |
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