alt Hacker NewsIt never did.
In debt the first 5000 years Geaeber makes the case that pure “free market” trade has never really existed in “the west”. The closest to this ideal that’s ever happened was during the Islamic golden age enabled by religious prescriptions against usury.
Replies
MarsIronPI • today at 7:29 AM
Usury (i.e. taking interest) sounds like free market to me. If you don't like my interest rates, borrow somewhere else.
gaiagraphia • today at 2:54 AM
>religious prescriptions against usury.
jujube3 • today at 4:14 AM
Graeber was a confabulator with a very loose grasp of the facts, though.
UltraSane • today at 2:46 AM
Without interest why would anyone loan money? Even the Islamic banking alternatives all just hide the interest charges.
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vasco • today at 5:52 AM
You can read Adam Smith if you're looking for definitions, there's no need to read charlatans.
>The closest to this ideal that’s ever happened was during the Islamic golden age enabled by religious prescriptions against usury.
How does are bans against consensual financial exchanges close to the "ideal" of the free market? It just sounds like you have an axe to grind about the financial system rather than describing free markets.