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submitted 1 month ago* (last edited 1 month ago) by Varven@lemmy.world to c/asklemmy@lemmy.ml
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[-] RobotToaster@mander.xyz 11 points 1 month ago

Rent seeking and usury (the charging of interest)

[-] stoy@lemmy.zip 5 points 1 month ago

Without charging of interest, why would a bank lend you money?

Also you would not get interest on money you have in the bank.

I agree that limits on charged interest on loans are needed, but abolishing them completely would destroy a big part of our society.

[-] dwindling7373@feddit.it 3 points 1 month ago

Usury means a paticoularly high interest rate.

Also, destroying a big part of our society sounds great!

[-] stoy@lemmy.zip 0 points 1 month ago

It might sound great untill it starts affecting you or someone you care about

[-] dwindling7373@feddit.it 3 points 1 month ago

My aunt works in oil, if it was made illegal tomorrow that wpuld dirsupt her life. I would be glad to help her and glad that the future of everybody just got brighter?

[-] stoy@lemmy.zip 1 points 1 month ago

If oil was made illegal tomorrow, society would collapse.

Supply chains would collapse, artificial fertilizer would not be made, crops would die, massive famine would set in, medicine would not be able to be made, power generation would stall, including emergeny generators, and vast numer of people would die globally.

Congratulations, who ever makes oil illegal, will be responsible for the biggest mass death globally ever.

[-] dwindling7373@feddit.it 1 points 1 month ago

Thanks for making me feel smarter.

this post was submitted on 26 Jul 2024
147 points (96.2% liked)

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