Re: interest v. "usury"

royls_at_telus.net
Date: 09/04/04 

Date: Sat, 04 Sep 2004 17:37:56 GMT

On 4 Sep 2004 07:01:12 -0700, william_b_ryan@hotmail.com (Bill Ryan)
wrote:

>In this essay Belloc differentiates interest per se
>from "usury," which is rightly condemned,

For no consistently defensible reason...

>and uses
>the terms "interest" and "profit" interchangeably,
>which is correct usage.

It most certainly is not. Profit is revenue less expenses. Interest
is the difference in value between money now and money later.

>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.

No, it is not.

-- Roy L

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