Comment: Usury

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Usury

Hi Michael, All,

I found a post on the DailyReckoning forum that discusses the "Money is Debt" video, and focuses on usury (charging interest on loans). The thread can be found at
http://2cents.dailyreckoning.com/viewtopic.php?t=17831

The first post in the thread seems to argue that usury may increase efficiency in an economy, perhaps through increases in complexity (or perhaps by stimulating competition/innovation). Although this may be true, do you think these ends (i.e. better efficiency) justify the means (i.e. the mathematical theory that when usury is part of a financial system, some borrowers must default on their loans)? Thanks for any insights.

Rich