Interest, usury and time
This paper argues that there are both ethical and economic reasons to support a normative claim that lower interest rales are preferable to higher ones. Biblical material as well as general ethical norms favours economic decisions that give a high weight to the future. High interest rates make the e...
| Main Author: | |
|---|---|
| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Interlibrary Loan: | Interlibrary Loan for the Fachinformationsdienste (Specialized Information Services in Germany) |
| Published: |
1993
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| In: |
Koers
Year: 1993, Volume: 58, Issue: 3, Pages: 369-374 |
| Online Access: |
Volltext (kostenfrei) Volltext (kostenfrei) |
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| 520 | |a This paper argues that there are both ethical and economic reasons to support a normative claim that lower interest rales are preferable to higher ones. Biblical material as well as general ethical norms favours economic decisions that give a high weight to the future. High interest rates make the economy less stable, economic growth less sustainable, and the income distribution less equal. Policy directions are offered for government, business, and households. | ||
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