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That has a real value.

Of course it has real value. And huge value indeed it has. But this is not created by the title holder. Paying rent to title holder, or interest extractor, without any labour nor entrepreneurship, creates additional cost to market prices.

Interest is payment for deployment of state power (money) to serve your goals. That, as well, has a real value.

I was talking about interest created over existing wealth. If interest is not a return to productive capital, whatever the mechanism is, it is just "rent" and again just an additional, unnecessary, cost.

by kjr63 on Mon Jun 6th, 2011 at 06:04:44 PM EST
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