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Old 11-04-2009, 10:28 AM
Out of the Box Out of the Box is offline
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Join Date: Jul 2008
Posts: 518
Default Re: Orchestrated Flu Pandemics

Originally Posted by EireEngineer View Post
Without loans, capital creation is nearly impossible, and the loan has to earn interest for the lender in order to service the debt.
I guess you never heard of Islamic banking. Just like it used to be in Western Christian countries (Jews became so succesful in banking precisely because it was considered immoral by gentiles), loaning money in exchange for interest is illegal in Islam. Nevertheless, Muslems found a way to keep their economy going without interest.

Still, a better way to manage an economy is to abolish loans for profit altogether and have the population buy something only when they actually have the money for it (like most people outside of the US still do --> I never loaned any money and don't even own a credit card). Exceptions can be made for large expenses like starting up your own business or buying your own house and here the government could serve as an agency that provides loans without interest according to pre-determined rules and principles.

Originally Posted by EireEngineer View Post
You are taking a pretty primitive view of economics.
No I don't. You do, because you only seem to understand how the capitalist economy works and you seem to lack any understanding of economic principles beyond capitalism.
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