Saturday, March 09, 2024

Economics and Shakespeare's Merchant of Venice

This is a guest post by wife Kim Endres.

Summary

The Merchant of Venice is a romantic comedy with an important secondary plot line involving a loan and default on the loan. Antonio, the merchant, borrows money from Shylock to help his friend Bassanio to woo Portia. Shylock is a Jewish moneylender who lives and works in Venice, but is considered an “alien.” Antonio insulted and even spat upon Shylock in the past. So, when Shylock accepts Antonio’s “bond,” he asks not for interest, but for a “pound of flesh” should he default.

When Antonio’s fleet of ships is lost at sea, he must default on the loan and Shylock brings him to the Court of the Duke of Venice to demand his due.

Controversy

Jews had been expelled on pain of death from England in 1290. Jews were informally allowed back into England in the mid 1600’s, but many Elizabethans had never met or seen a Jew. The prejudices against Jews and the stereotypes of Jews persisted. When Jews were portrayed in the theater, actors used props and costumes to allow the audience to recognize them as Jewish. Jews in plays were usually villains or clowns. The actor would wear a red and bulbous nose and a bright red wig, and otherwise render the actor hideous. Audiences would hiss and boo when a Jewish character came on stage.

In the Anti-Defamation League’s guide to The Merchant of Venice for presenting the play to students they write: “Over four hundred years after The Merchant of Venice was first written, the debate rages on about Shakespeare’s intentions regarding the character of Shylock, whether the play is anti-Semitic or a criticism of the Christian anti-Semitism of Shakespeare’s time, and even whether the play should be taught in schools.”

In its article “Shylock, the Merchant of Venice,” No Sweat Shakespeare writes: “It was forbidden to employ Jews and they were not allowed to enter the professions or conduct legitimate business and so, in order to survive they had to live on their wits. Many of them became money lenders, lending out money for interest. Jews therefore became associated with money-lending and those who borrowed from them accused them of charging unreasonable rates so the prejudice of their being thieves and swindlers took root and lasted for centuries.”

Over the centuries, the play has been used by antisemitic people and organizations to justify their biases. Hitler used the play as propaganda to promote his views on Jews.

Shylock as a humanized character

Shylock is not a sympathetic character by any estimate. He is bitter from his abuse by Venetians. He disdains the pleasures of life, music and dancing, and wants to lock his daughter Jessica away in his house.

But some critics have argued that Shakespeare humanizes Shylock. The Stage Milk article “The Merchant of Venice: Shylock Monologue (Act 3 Scene 1)” states: “Shylock is a deeply oppressed man, corrupted by the discrimination he has faced. All the injustice he has been subjected to has culminated in this climactic moment: he has been ostracized, his daughter has abandoned him [stolen his money,] and converted to Christianity and he is about to find out whether Antonio will be able to pay him back in full. Shylock challenges his Christian audience with this speech, asking if not all humans are created equal.” In the scene, two young Venetian men mock him and ask what he would do with Antonio’s pound of flesh.

SHYLOCK:    To bait fish withal; if it will feed nothing else,

it will feed my revenge. He hath disgraced me and

hindered me half a million, laughed at my losses,

mocked at my gains, scorned my nation, thwarted

my bargains, cooled my friends, heated mine enemies—

and what’s his reason? I am a Jew. Hath not

a Jew eyes? Hath not a Jew hands, organs, dimensions,

senses, affections, passions? Fed with the

same food, hurt with the same weapons, subject to

the same diseases, healed by the same means,

warmed and cooled by the same winter and summer

as a Christian is? If you prick us, do we not

bleed? If you tickle us, do we not laugh? If you

poison us, do we not die? And if you wrong us, shall

we not revenge? If we are like you in the rest, we will

resemble you in that. If a Jew wrong a Christian,

what is his humility? Revenge. If a Christian wrong

a Jew, what should his sufferance be by Christian

example? Why, revenge! The villainy you teach me I

will execute, and it shall go hard but I will better the

instruction.

Shylock then acts to have Antonio arrested.

Venice as a Center of Commerce

Venice in Shakespeare’s time was a center of commerce and international trade. Shipping was the source of much of its wealth. It was also a place that operated under the rule of law.

At that time, much of Europe was still ruled by hereditary kings and nobles, whose personal word was the law. Such laws were applied unevenly and even capriciously. This would not work for a city which depended on its good reputation for fair dealing. Laws were needed to enforce contracts (or bonds as they were called) between people of different nations and cultures.

So, when Shylock has Antonio arrested, the Duke feels he has no choice but to apply the law impartially. But note: Shylock despite being a Venetian, is considered an “alien.”

The quality of mercy is not strained

In Act 4, Scene 1, Shylock has brought Antonio to Court to claim his pound of flesh. Portia, disguised as a male lawyer named Balthazar, delivers this monologue to Shylock. Portia says that Shylock must be merciful, and Shylock asks by what compulsion he must show mercy.

PORTIA (as Balthazar): The quality of mercy is not strained;

It droppeth as the gentle rain from heaven

Upon the place beneath. It is twice blest;

It blesseth him that gives and him that takes:

'T is mightiest in the mightiest; 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 enthronèd in the hearts 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 thy 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 thy plea;

Which if thou follow, this strict court of Venice

            Must needs give sentence 'gainst the merchant there.

Shylock answers that he craves “the law, The penalty and forfeit of my bond.” In other words, he still wants his pound of flesh from Antonio.

Bassanio implores the Duke to override the law in order to right a wrong. But Portia says that the Duke cannot, because to do so would establish a precedent that might lead to injustice.

Portia asks to read the bond. Again, Portia asks Shylock to be merciful and accept three times the amount of the loan. Again, Shylock refuses. Portia asks if he has a surgeon to stop Antonio’s wounds lest he bleed to death. Shylock answers that it is not required by the bond and asks that the sentence be executed.

Then, at the last moment, Portia says to the effect, “not quite so fast.”

PORTIA (as Balthazar): This bond doth give thee here no jot of blood.

The words expressly are “a pound of flesh.”

Take then thy bond, take thou thy pound of flesh,

But in the cutting it, if thou dost shed

One drop of Christian blood, thy lands and goods

Are by the laws of Venice confiscate

Unto the state of Venice.

Portia says to Shylock “Thou shalt have justice more than thou desir’st.” At this, Shylock wants to take it back and accept the money. But Portia says it is too late, that Shylock shall have only justice. Thwarted, Shylock tries to leave, but Portia stops him.

PORTIA (as Balthazar):  Tarry, Jew.

The law hath yet another hold on you.

It is enacted in the laws of Venice,

If it be proved against an alien

That by direct or indirect attempts

He seek the life of any citizen,

The party ’gainst the which he doth contrive

Shall seize one half his goods; the other half

Comes to the privy coffer of the state,

And the offender’s life lies in the mercy

Of the Duke only, ’gainst all other voice.

The Duke pardons Shylock’s life, but agrees he must forfeit his wealth. Portia asks Antonio to render mercy to Shylock. Antonio says that Shylock will forfeit half of his wealth to Antonio to use, but that upon Shylock’s death, all of Shylock’s money will go to his daughter and her husband. Further, Shylock must agree to convert to Christianity.

Discussion Questions

In today’s language, it might be said that Shylock was a “victim of institutional racism.” Do you agree or disagree?

It seems like Antonio got off on a technicality without any penalty, while Shylock lost everything. If you were a trader from another country, what would you think of the Venetian justice system?

In the play, justice is contrasted with mercy. Did Shylock receive mercy? Did he receive justice?

In the end, Shylock is forced to convert to Christianity. In Elizabethan times, this would look like a happy ending to the audience. What do you think?

How “Christian” are the Christians in the play?

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