The transition would be turbulent as fuck. "The home mortgage is illegal." Jesus, that's a quick turn.
Probably just stop new ones.
Gentlest way would be to enable anyone to exit a contract that involved usury.
There is no gentle way to reshape every single corporate entity in your country, not at implementation in accounting, and not in the after-effects when remove the financial motivator for credit from your world. Unfold, incrementally, how this would apply to rotating loans, for example. Do you know any companies that use a complex financial instrument like a loan?
I don't even know how to approach this...
https://www.theguardian.com/notesandqueries/query/0,5753,-1030,00.html
https://archive.is/nVYxw
"In the late Middle Ages the problem of financing the royal exchequer and setting up capitalist institutions in the face of the Christian ban on usury was resolved by allowing Jews to act as bankers. They therefore came to be viewed as pariahs, just as cow hide tanners are pariahs in Hindu society. It was in this way that the Jewish community was able to accrue vast wealth and thereby to bring down on its head the loathing of the Christians. Hence Shylock. This enmity is still the underlying basis of modern anti-Semitism."
Good analysis.
Usury means that people are able to take out loans to rise above their station.
Its absence means that families must hoard money and taxes must be low or nonexistent.
>There is no gentle way to reshape every single corporate entity Of course there is, it’s called inflation. There are allegedly about $11 trillion U.S. dollars currently in the M2 money supply. Fire up the ol’ printin’ press (just kidding, it’s already running) and print out $22 trillion dollars over the next 10 years. Distribute the newly printed money absolutely equally among all citizens.
This:
successfully devalues all billionaires and creditors
operates gradually
preserves all market incentives for future behavior
doesn’t reward or punish anyone for past behavior (those in debt are still in debt, just less; those that are rich are still rich, just less; those in the middle are still in the middle (and the same))
Bonus
@search_social @moth @amerika @luke @torresjrjr
distributism.jpg
“I said quantitative easing, EASING, not easy!!”
Nothing compliments overly broad conversation like more of the same.
False target. You just make it illegal from this point onward, and it gradually goes away.
That is much less drastic than retroactive application, still drastic for my taste but I’m sure that’s generally going to be true.
Yes, please. Let people save money instead and buy reasonable things. Our economy would not grow as fast, but we would not have the ravages of that, either.