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 @Thesokorus @GuillermoJBirch
Hence the awesome industrial prowess of the Islamic World.
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Replying to @GuillermoJBirch @Thesokorus
Correlation of Chinese economic growth with contractual security of interest-bearing loans is probably no weaker than that of the West.
9:11 PM - 23 Apr 2019
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