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RE: A Message From the Chief Anarchist For the Anarcho Capitalist Peasants.
Would banning interest be a solution to much of capitalism's drawbacks. Free trade and exchange for money is still possible. Margrit Kennedy has detailed the cost of interest within the economy and how it transfers wealth from 90% of participants to the wealthiest 10%.
Without interest prices across the board drop by 40%, in her estimation.
Margrit Kennedy - Interest:
I am still considering her ideas, so I haven't come to a conclusion on banning usury or on anarcho-capitalism, for that matter, as yet.
The modern fiat and fractional reserve banking system is literally an enslavement system and interest is one of the main causes of the enslavement. There is not enough money in existence to pay back the interest allegedly owed - which therefore guarantees that statistically, many will 'go broke' almost regardless of what they do.
This is not a 'mistake', this is entirely by design!
How do you 'ban' interest in an anarchy though? If some people voluntarily choose to pay interest then that is for them to deal with. In my view, the problem is that they are in the position of thinking they need to borrow money in the first place.
In anarchy, there is no money. At least that's the theory.