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by a8da6b0c91d 3912 days ago
Prohibition on charging interest makes perfect sense in a zero growth economy. Economic growth was effectively zero per capita for almost all of human history before the industrial revolution. Wealth amassed from charging interest in a zero growth economy represents transfer of wealth, not capital formation.

Likewise, sabbath keeping rules make perfect sense in such an economy. No, you can't work a lot of extra hours more than we're all willing to work and amass extra wealth for yourself. The net result of that is you taking a bigger piece of the economic pie. The longer work really doesn't grow the pie, which was essentially limited by the agricultural productivity of the land.

2 comments

Funny, I never interpreted rules about not working on the Sabbath that way. I always saw them as rooted in the wisdom that you need recovery time, you need to rest regularly.

IIRC, during The French Revolution, they tried a 10 day work week just to try to distance themselves from the old ways. It did not work. People need a day off about once every 7 days when they are working physically hard and for long hours at their jobs. They suffer burn out and collapse when they don't take time off to recover.

It also makes sense today. Look at how the rich are becoming richer, and the poor are becoming poorer. Practices such as interest are making the issue worse and worse. This is not sustainable.

A big point of banning interest is that one can just sit on his money, while making more money; without really incurring any risk. One can get wealth from other means, which contribute to the society, while incurring risk on the money owners part. This is key.