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The Price of Time in a World Without Interest | Edward Chancellor

Hidden Forces

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The Origins of Interest

In the nineteenth century, as english economists called it, defined interest as a reward for abstinence. There is other function that interests serves, which is an inducement to save. It's kind of like the goose that lays the golden eggs. You can eat the goose, but it comes at the cost of some undefinable uantity of golden eggs. The word interesa in latin is actually soo was a legal term for actually a loss.

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