my understanding is that this doesn't work out in practice, much the same way Christian teachings are ignored or "loopholes" are found. but boy is that the exact right attitude, on paper, to have towards money.
my understanding is that this doesn't work out in practice, much the same way Christian teachings are ignored or "loopholes" are found. but boy is that the exact right attitude, on paper, to have towards money.
in Graeber's Debt history book, a lot of attention is paid to the linkages in language and values between religious institutions, banks and debt. islam and christianity proscribed lending at interest. jews had routine jubilees (wide spread forgiveness). i can't remember explicitly what was going on with buddhism/hinduism/confucianism, but rules and reforms abound.
even the ancient greeks had this whole line of logic about the profanity of interest. it was articulated that nature was from The Gods and thus could reproduce and grow itself. money was recognized as a specifically human invention, artificial and distinct from nature. and to charge interest was to profane the gods by giving man's creation the power of gods.
fascinating shit that capitalism has completely ignored and apparently it's going to boil the planet! what a coincidence.
One can only conclude that the Greeks were correct and interest is profanity
love me some Graeber!