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Lending with interest (Usury) creates systemic instability, in a similar way that Dollar Auction scheme does. There's no way to have stable financial system in
by dpc_pw 6y ago
Lending with interest (Usury) creates systemic instability, in a similar way that Dollar Auction scheme does. There's no way to have stable financial system in the presence of wide-spread usury. This fact has been known to ancient cultures, which routinely banned usury or counter-acted by having an universal debt-jubilees.
https://en.wikipedia.org/wiki/Usury https://en.wikipedia.org/wiki/Usury
https://en.wikipedia.org/wiki/Dollar_auction https://en.wikipedia.org/wiki/Dollar_auction
https://en.wikipedia.org/wiki/Debt_jubilee https://en.wikipedia.org/wiki/Debt_jubilee