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From the point of political economics, charging interest is not necessarily a given. Economies exist where interest is prohibited.
by pseingatl 8y ago
From the point of political economics, charging interest is not necessarily a given. Economies exist where interest is prohibited.
- gibybo 8y agoIn name perhaps, but the concept of an economic good having potentially different values at different times is universal. An economic system that tries to pretend it doesn't exist may work in the sense that a mathematical system without a 0 works. We can still analyze the system using the concept and develop insights using it as a tool, even if they don't recognize it themselves.