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There's some relatively simple solutions out there to prevent usury. The issue is they aren't all that profitable. Essentially you have to ban compounding inte
by ticviking 8y ago
There's some relatively simple solutions out there to prevent usury. The issue is they aren't all that profitable.
Essentially you have to ban compounding interest on loans without collateral, and restructure all loans with collateral as "rent on shares of the collateral" Then an "interest only payment" is renting your collateral back, and your normal payment would be buying back a share, plus paying the rent on the rest.
Islamic Banking has instantiated similar things(though I'm not familiar with all the details) and I've seen several different Christian groups propose similar things.