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Statements like - "Katz doesn't believe that people are morally obligated to pay back their debts." I'm not sure I disagree -- "Usuary" used to be thoroughly i
by wildjim 17y ago
Statements like - "Katz doesn't believe that people are morally obligated to pay back their debts."
I'm not sure I disagree -- "Usuary" used to be thoroughly illegal/immoral/etc didn't it?
... and "People are brainwashed to think that paying a credit card is more important than paying for the necessities of life." - Maybe if people spent more time worrying about the necessities of life and less about luxury they wouldn't be in debt in the first place.
I definitely believe credit cards are less important than basic necessities.
- angelbob 17y agoUsury was forbidden by the Bible, if memory serves. Still, that doesn't make accepting the loan moral and offering the loan immoral. Presumably both sides are breaking the old Biblical prohibition.
- ars 17y agoThe bible prohibits any interest, not just excessive interest. A loan is supposed to be charity, not a money making opportunity. If someone needs money to open a business or the like, then the lender is supposed to partner/go into business with him, not just lend at interest. You can get around the prohibition by structuring the partnership into something that acts like interest, but the intent of that is for business, it's not intended to replace charity loans.
- pyre 17y agoI think the point is that most people don't run up massive credit card debt on 'the basic necessities of life.'