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Capitalism is not Usury [1]

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Date: 2023-05-13

Economics has become the science of wealth consolidation, which is very different from the generation of value. In a nutshell, neoliberalism enshrines the ancient practice of usury (maximizing the interest differential between savings and loans), where Smith's capitalism was concerned with the maximization of value.

Smith’s theory was a mutual benefit pact between the laboring and wealthy classes. In its elaboration by Taylor and Keynes, it ushered in a golden age of civilization. Please stop maligning it. The right label is “usury.”

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[1] Url: https://www.dailykos.com/stories/2023/5/13/2169143/-Capitalism-is-not-Usury

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