I’m not an economist, but I’m not aware of any economic systems that work without a lending component.
Without lending that means you’ve got one group of people with stuff that don’t need it, and another group of people with need for stuff but without stuff. Without lending there’s no way for the people with needs to get stuff, and the stuff is wasted sitting without being used.
Money is credit. It’s a promise that someone else will pay their labor or capital or goods in exchange.
I would like a world where the things people NEED housing, food, medical care, are provided and the things people want, they can save up money (credit) and purchase by selling what they can, labor, skills, assets.
Yeah pretty much. It’s just, in a capitalist system (without some kind of overarching ideology shaming people into not doing it), there is no lending without profiting. Nobody is going to lend their money out of the goodness of their heart in this system.
How about we don’t build an economy on borrowing?
I’m not an economist, but I’m not aware of any economic systems that work without a lending component.
Without lending that means you’ve got one group of people with stuff that don’t need it, and another group of people with need for stuff but without stuff. Without lending there’s no way for the people with needs to get stuff, and the stuff is wasted sitting without being used.
Thats the world you want to live in?
Money is credit. It’s a promise that someone else will pay their labor or capital or goods in exchange.
I would like a world where the things people NEED housing, food, medical care, are provided and the things people want, they can save up money (credit) and purchase by selling what they can, labor, skills, assets.
I agree with you, but thats a wholesale change in government and society far removed from credit scores.
Well usury is harem in Islam, so you can do it without the insane profiteering.
So your problem isn’t lending, its just large profits on lending?
Yeah pretty much. It’s just, in a capitalist system (without some kind of overarching ideology shaming people into not doing it), there is no lending without profiting. Nobody is going to lend their money out of the goodness of their heart in this system.
Though mutual aid could probably solve this.