Posted: Sep 21, 2013 8:49 am
Thomas Eshuis wrote:I think the notion of interest and debt is a far greater detriment to society than money will ever be.
They are inherent in a monetary system though. Receiving interest is no different to investing in a shop, you just get a much higher return from the shop investment. Debt is just agreeing to pay someone at a later date, it's impossible to remove.
Paying interest on debt is an interesting one, you could use legislation to limit the amount banks can charge. But no one would loan if they couldn't receive interest, they would just invest in shops instead
