4 ms·
If we're wondering how to better distribute capital/money, I was reminded of this article describing a new monetary system: """But there’s an even more excitin
by abledon 9y ago
If we're wondering how to better distribute capital/money, I was reminded of this article describing a new monetary system:
"""But there’s an even more exciting solution we might consider. We could abolish debt-based currency altogether and invent a new money system completely free of intrinsic debt. Instead of letting commercial banks create money by lending it into existence, we could have the state create the money and then spend it into existence. New money would get pumped into the real economy instead of just going straight into financial speculation where it inflates huge asset bubbles that only benefit the mega-rich.
"""
https://www.theguardian.com/global-development-professionals-network/2016/nov/05/how-a-new-money-system-could-help-stop-climate-change https://www.theguardian.com/global-development-professionals...
- dfee 9y agoThis is actually a principal of Islam, to what I understand. Interest is against the doctrine [0]. I’m not Muslim, so I can’t speak to how well it’s followed. [0] https://en.wikipedia.org/wiki/Riba https://en.wikipedia.org/wiki/Riba