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Originally Posted by August
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Originally Posted by Skybird
Actually, this is one of the extremely rare occasions were I tend to agree with Islam, at least in parts, in principle. I think the world would be better off if no one could make additional money by just lending and leasing money to others. It is neither a constructive nor a creative effort. Economical policy and the behavior of companies and the widespread economic selfishness would look different if the principle of interest earnings (Zinserträge) coming from lending/leasing money would not exist.
But I am straying off into utopias...
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But without interest what incentive would there be to lend a person money for a new house or car or whatever? Every time a bank makes a loan to someone they risk that person being unable to pay it back. It seems to me what you're asking is for free money. |
Well, if an apple costs one dollar, and you have three dollars - how many apples can you buy...?
Sure it would be a different world. But would it necessarily be worse? Polcie considers you to fulfill one criterion for identifying you as a terror suspect if you do not have a certain ammount of financial debts on your banking account. That normal we consider it to live on tick! Escpeically the USA is living on tick, too, massively, and all Western nations also do so, to lesser degrees. We are consuming financial values that even do not exist! And this is not absurd...?