Charles, what kind of Marxist are you? Abolish interest without
abolishing the profit system? Print money to fund infrastructure
investment? This is classic populist snake oil!
Doug
CB: Isn't interest taking part of the profit system ?
it's possible to have zero interest under capitalism (a.k.a. the
profit system), as with Islamic banking. Instead of making loans, I am
told, Islamic banks take over part of the equity of the "borrowers."
Also, as Michael Perelman notes, banks can sometimes make more money
on fees (for running trust accounts, checking accounts, etc.) than
from interest.
--
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your
own way and let people talk.) -- Karl, paraphrasing Dante.
