Saturday, September 15, 2012

Why Interest Rates Are Artificial And Should Be Abolished

I've never seen an explanation of where interest rates actually come from, or why they should be abolished, before. These things are always just assumed, the latter with stamp scrip, and the former with "time preference of money" which is irrational and I don't share at all. Here it's clearly stated why interest rates are artificial and evil. They are a natural product of human atavistic greed over a totally artificial product, one that is completely out of touch with everything in physical reality. With the sole exception of land, which is something humans don't create. The paragraph in that page serves as a complete and thorough denunciation of the entire field of economics. If economists are so evil and corrupt that they won't denounce interest rates, let alone work to eradicate them, then what possible value can they have as academics? Lynch the lying fuckers, all of them.

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