Browsing By Tag "interest on money"
Rule or Resistance—Which? [Liberty, December 26, 1891.] To the Editor of Liberty:(20 ¶ 1) Do you think that it is accurate to say, as Liberty has said recently, that Anarchism contemplates the use of police, jails, and other forms of force? Is it not rather that Anarchism contemplates that those who wish these means of protection shall pay for them themselves; while those who prefer other means shall only pay for what they want? (20 ¶ 2) Indeed, the whole teaching that it is expedient to use force against the invader, which, as you know, I have always had doubts about, seems to me to fall when Egois...
These letters, addressed to Frederic Bastiat, an economist, originally appeared in a debate published in The Voice of the People, in 1849. Interest and Principal A Loan is a Service On the one hand, it is very true, as you have unquestionably established, that a loan is a service. And as every service has a value, and, in consequence, is entitled by its nature to a reward, it follows that a loan ought to have its price, or, to use the technical phrase, ought to bear interest. But it is also true, and this truth is consistent with the preceding one, that he who tends, under the ordinary conditions of the professional lender, does not deprive himself, as you phrase it, of the capital which be lends. He lends it, on the contrary, precisely bec... (From : Anarchy Archives.)