Belinda wrote: ↑Fri Apr 25, 2025 10:12 am
Immanuel Can wrote: ↑Thu Apr 24, 2025 8:55 pm
Belinda wrote: ↑Thu Apr 24, 2025 8:23 pm
"your goods put not to usury" is a biblical commandment, particularly referenced in Psalm 15:5 and Deuteronomy 23:19, advocating against charging interest on loans, especially to fellow Israelites.
So far, so good.
But Immanuel Can says capitalism was invented by socialists:
The whole idea of "capitalism" was "developed" by Marxists during the last century, during the Industrial Revolution. It had no existence before. Before that, you had things like feudalism and aristocracy.
You are mixing up two different concepts: "capitalism" and "usury." They're not at all the same, even in Marxist thought.
Capitalism is basically charging interest...
No, those things are distinct. Capital is (in Marxist terms) "surplus value" derived from labour. "Interest" is a premium charged on the borrowing of money. I can't imagine how you got those two mixed up.
Immanuel, you can't see that because we all do it.
No, I see what a market is, and what a free market is, and what a restricted market and a closed market are. What we are doing is far from invisible, but it's not an "ism," an ideology: it's just a pragmatic arrangement, unlike Marxism, which is an ideology.
The modern world economy is built on capitalism.
Free market economics are so overwhelmingly successful that they dominate the world economies, it's true. Meanwhile, Socialist economics are such a disaster that they've collapsed every economy that's tried to practice them, and they can't even be practiced in China: they've had to opt for "Red Capitalism," as they call what they're doing. But then, they're Marxists, so they imagine that anything contrary to or different from Communism must be another kind of "ism." That's an indoctrinated way to think. It's also pure projection: they think everybody else is immersed in indoctrination, because that's all they know themselves.
There is no "capital-ism." There is such a thing as "capital," but it's just a feature of the creation of value, and not necessarily sinister at all. When Bill Gates takes a bunch of electronic parts and turns them into a computer, he creates something that is much more valuable than just computer parts. More value, "surplus" value, then comes into existence as a result of his inventiveness and entrepreneurial vision. And you and I buy his product, and type to each other on it, so we recognize the added value Gates has created.
Value is not zero-sum. Only Marxists are stupid enough to insist it is. Capital can be created and expanded, because value can be added. You're mixing up usury, exploitation and capital, as if they were the same thing, or somehow coordinated. They don't have to be, even if some people are guilty of abuses. There's nothing inherently wicked about capital.