Re: interest v. "usury"

From: Bill Ryan (william_b_ryan_at_hotmail.com)
Date: 09/04/04 

Date: 4 Sep 2004 07:01:12 -0700

I thank Mark Monson for this excerpt from Belloc's
"Economics for Helen," originally published in 1924,
which has recently become available in reprint
edition. I have placed it into our introductory
compendium
http://www.geocities.com/socredus/compendium
Those who are familiar with the work of C. H. Douglas
will remember that he frequently quoted Belloc, and
often used similar metaphor, such as the "Servile
State."

In this essay Belloc differentiates interest per se
from "usury," which is rightly condemned, and uses
the terms "interest" and "profit" interchangeably,
which is correct usage. You might remember that
Douglas said that interest is profit "on an
intangible." The term interest is therefore merely
colloquial usage for a particular classification of
profit.
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