I agree there are externalities associated with banking that should be redressed, but I also think the fractional reserve systems makes perfect sense. That there is nothing immoral about interest at all, any more than there is getting paid rent on any other asset you might loan to someone. I think there are simpler ways to fix the hidden transfers of wealth that prevent the price we pay for the choices we make (as individuals and societies) from matching their true cost. That's what you want.
I agree there are externalities associated with banking that should be redressed, but I also think the fractional reserve systems makes perfect sense. That there is nothing immoral about interest at all, any more than there is getting paid rent on any other asset you might loan to someone. I think there are simpler ways to fix the hidden transfers of wealth that prevent the price we pay for the choices we make (as individuals and societies) from matching their true cost. That's what you want.
ananiasacts 2 years ago
What about insurance? Is that an immoral business as well?
ananiasacts 2 years ago