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[+]prairie0 points0 points0 points
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[–]prairie0 points
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How does interest create new currency? Imagine if the loan didn't involve any money, just labor: I'll do this work for you over the next week if you do the same in return a year from now, plus an extra day of work. No money at all, but still interest.
Interest is just recognition that things now are often more valuable than things in the future, because of the benefits they provide over time.
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[–] prairie ago (edited ago)
How does interest create new currency? Imagine if the loan didn't involve any money, just labor: I'll do this work for you over the next week if you do the same in return a year from now, plus an extra day of work. No money at all, but still interest.
Interest is just recognition that things now are often more valuable than things in the future, because of the benefits they provide over time.