Re: Explanation of interest (was: Re: [ox-en] Apple trees (aka capitalism) are bad. What about barter exchange?)
- From: Michel Bauwens <michelsub2004 gmail.com>
- Date: Thu, 30 Apr 2009 09:11:43 +0700
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In case the capital of the capitalist comes in the form of credit the
interest is only a share of the surplus value the capitalist creates
anyway. So by now it should be clear that interest is only a derived
form of a more fundamental things.
This is very basic knowledge and not very difficult to understand.
Funnily these very simple facts are ignored by the money trickery
fraction.
the labor theory value is disputed, not ignored
If you want to remove interest - which the money trickery fraction
usually demands - than you have to remove production of surplus value
which removes the need for capital which removes the need for money
and exchange altogether. In *this* sense attempts to remove interest
is fine with me - though it would better be called removing the money
system completely.
this is not correct, demurrage-based money has existed throughout history,
in fact it is characteristic of the high phases of civilisation, such as the
first medieval renaissance ; no interest islamic banking is thriving; and
low-interest cooperative banking like the Jak bank is doing very well
these are a few basic facts the
software-trickery-only-but-no-change-allowed-in-money-software-faction
should be aware of
but you can see your point the other way: capitalist accumulation is made
much more difficult with monetary transformation, because the bonus on
capital accumulation diminishes
if favours productive capital, from workers and small businesses, against
financialization
In any other sense I can not see any reason to remove interest. As I
said: It is like removing the leaves from the apple tree.
Grüße
Stefan
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_________________________________
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