Perhaps its my lack of perspective having lived only the in the US, but I'm trying to get my head around how an economic system without usury/lending would function. Perhaps someone can provide an example?
And, yes, perhaps its not fair to equate lending with usury as the common definition of the latter is essentially that its lending with unreasonably high interest rates. But that definition is squishy. What is "unreasonable"? Surely some interest is warranted as the lender is taking risk?
Looking forward to the comments on this one. :D
Perhaps its my lack of perspective having lived only the in the US, but I'm trying to get my head around how an economic system without usury/lending would function. Perhaps someone can provide an example?
And, yes, perhaps its not fair to equate lending with usury as the common definition of the latter is essentially that its lending with unreasonably high interest rates. But that definition is squishy. What is "unreasonable"? Surely some interest is warranted as the lender is taking risk?
Looking forward to the comments on this one. :D
(post is archived)