HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Video & Multimedia (Forum) » Money that Earns Money is...
Introducing Discussionist: A new forum by the creators of DU

Sat Jan 26, 2013, 04:36 PM

Money that Earns Money is Evil?

3 replies, 946 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 3 replies Author Time Post
Reply Money that Earns Money is Evil? (Original post)
rdubwiley Jan 2013 OP
limpyhobbler Jan 2013 #1
zeemike Jan 2013 #2
Demo_Chris Jan 2013 #3

Response to rdubwiley (Original post)

Sat Jan 26, 2013, 05:31 PM

1. Well,

When you receive money based on an investment, that money represents value that was created as a result of another person's work.

People have the right to receive full payment equal to the value they create through their work.

Of course the investor has also does some work, in the sense of assembling the money for the investment, and maybe taking some risk.

So investment income in this sense could be considered a form of theft, as the investor receives wealth over which some other person also has a legitimate competing claim.

It's not 'evil' in the supernatural sense of the word. But at least by one way of looking at things, it is theft. Or at least we could say that the investor and the other value-creators both have legitimate competing claims over the wealth generated in this process.

When equal legitimate claims come into conflict in this way, force decides the outcome. In our system it is true that the money "earned" by investment is generally considered to be the new property of the investor. And government backs that up with the force of laws.

But there's no particular reason why it has to be that way, other than that it is the result of the power relationships that exist between workers and owners, or borrowers and lenders.

There is no particular reason why investors should receive any more money from their investment than would be equal to the value they created by assembling the money for the investment and the time they spend on it. In an alternative scenario, all the new extra value created could flow to other people participating in the process who have equal claims over it because they helped created it.

I hope that clears things up for you.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to rdubwiley (Original post)

Sat Jan 26, 2013, 06:05 PM

2. Perhaps you can learn something from history.

If you dare go there.
But in the Bible the nation of Israel made laws that forbid usury...of any amount....and they prospered for a few hundred years until the got a King the blew it all up.
If you want an example of a system that does not have usury it is all laid out completely in the bible...right down to how things were valued.
But just think for a minuet...if you had a million dollars and you could not invest it for interest what would you do?...hide it under the mattress?...or improve your own business or that of your children and relatives...which aids the whole family and community.
Capitalism as we know it is not one of two choices we have...we have lots of choices including a mixture of all of them.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to rdubwiley (Original post)

Sat Jan 26, 2013, 07:06 PM

3. Without interest there is no incentive to lend

 

The only reason I might allow you to use the money I own is if, in exchange for my risk, I might earn a bit of additional money. Otherwise there is nothing in it for me.

Without interest money stays in the hands of those who currently have it.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread