Usury does not mean high interest. It means any interest, however low, demanded for an unproductive loan. It is not only immoral but it is ultimately destructive of society. It has only been the rule of our commerce to take usury since the breakup of Europe following on the Reformation. Usury will destroy our society, but meanwhile there is no escape from it. Read more …
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Japan, Refutation of Neoliberalism
No-one wants to talk about Japan these days. The conventional wisdom is that the bloom went off Japan’s economic rose around 1990 and that the utter superiority of neoliberal capitalism was vindicated by the strong performance of the American economy during the 1990s. Read more …