No it still applies to today.
If you borrow you are slave to the lender until the debt is paid. The reason you make money is to pay off the debt you owe.
The borrower is slave to the lender!
Not if the contract is entered voluntarily.
This is simple-minded. I am reminded of a piece of advice with which my secured transactions professor would always caution us:
If you borrow $1000, it is your problem. If you borrow $1,000,000, it is the bank's problem.
Truer words never spoken.