Interest prices time-preference. It's going to emerge automatically in any economy of even modest sophistication.
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Replying to @GuillermoJBirch @Thesokorus
Compounding interest is simply the reciprocal of compounding productive investment. Anything else would be economically nonsensical.
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Replying to @GuillermoJBirch @Thesokorus
Fractional reserve lending is not implicit in the principle of interest.
9:09 PM - 23 Apr 2019
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