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I must have missed this one in my Inbox - I look forward to it too haha But to be serious, I'm not arguing that the Islamic system is "better", just that it re
by brutusborn 4y ago
I must have missed this one in my Inbox - I look forward to it too haha
But to be serious, I'm not arguing that the Islamic system is "better", just that it removes certain risks that unrestricted lending cause. I don't think the solution is to ban lending but instead to be aware of the risks and make sure your regulation and enforcement is adequate.
I hate knee jerk dismissal of alternative policies, so I felt I needed to point out to the parent commenter that there are places where there is no debt, and no hunger.
- selimthegrim 4y agoBelieve me I wish there was no hunger in those places too
- brutusborn 4y agoI definitely misspoke there: I meant that they have no debt and no mass starvation. I’m aware there’s a lot of poverty in the Islamic world, but it’s not because Usury is illegal.
- sanderjd 4y agoIt isn't not because of that either.
- brutusborn 4y agoI’d need to see some statistics to be convinced either way. When I think of poverty, I think of sub Saharan Africa. I believe debt is legal in most of those countries, so the odds are that banning debt is a small part of the poverty picture.
- sanderjd 4y agoOk.