Topic: USURY is it good or bad or neutral ? - page 4. (Read 6127 times)

Re: USURY
Today at 10:17:18 AM
   
Reply with quote  #4
Quote from: reg on Today at 09:51:45 AM
should it not be discouraged and considered morally reprehensible again? discuss. reg.

Absolutely not. Interest is the price of money. How is the market suppose to work efficiently without knowing this price? Such a suggestion could only be made by someone economically illiterate so please go and first read a few books and get your knowledge up to par before attempting to reshape the way a whole market works. You'll find a lot of free stuff here: www.mises.org and an excellent low level of understanding required piece you should read (watch) is here: How an Economy Grows and Why It Doesn't (by Irwin Schiff)

Thank you for raising the point I was hoping would come to the fore. I accept I may be economically illiterate but I have read Mises (who I consider to be plain wrong). My point- continual growth at any level (currently wanted to be 3% p/a per economy) is fundamentally incompatible with finite resources. Why because at the basic level stuff is the asset you barter and exchange with others. When the last grain of sand has been used as an asset -what then? refering to another comment about middle age morals (not religious but social) a mans word was his bond- not any more -what a great shame!. reg.

Aside from a couple other misspellings, your English is very good and the topic spot on. I agree, this is another valid way to look at the problem.

Assuming of course, manipulation of interest rates by interested parties.

Absolutely not. Interest is the price of money. How is the market suppose to work efficiently without knowing this price? Such a suggestion could only be made by someone economically illiterate so please go and first read a few books and get your knowledge up to par before attempting to reshape the way a whole market works. You'll find a lot of free stuff here: www.mises.org and an excellent low level of understanding required piece you should read (watch) is here: How an Economy Grows and Why It Doesn't (by Irwin Schiff)

thank you-spelling was also much frowned upon

Its "usury".

Usury (the practice of charging interest on lending money) was illegal almost everywhere and morally frowned upon until the middle ages (see a play by a little known English author  "William Shakespere!" called The Merchant of Venice) . I would argue that the fundamentals of our current economic malaise rest in it being legalised and bought into general use. Whilst not suggesting it be banned again-wishing to avoid legal and contractual problems at least in relation to bitcoin (a new economic approach) should it not be discouraged and considered morally reprehensable again? discuss. reg.