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Uploaded on Tuesday 23 June, 2020 to the illusion of money |
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Interest as rent for money |
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The concept of paying interest rates on loans works in much the same way as in the context of paying rent for a dwelling insofar that the benefit derived from any money borrowed has a value which is proportional to the sum of the loan and its expiry, just like paying rent on accomodation is proportional to the desirability of any property and the duration of tenancy. Thus is the price paid attributable to the benefit in these examples. This tutorial discusses the analogy of interest as rent for money in a libertarian economy.
This video is courtesy of the Khan Academy whose YouTube channel is available here. |
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