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Those who thinks Interest is always bad for Economy, should know its not true, taking interest is actually a moral evil.
Apart from being evil and disgusting.
It's terribly bad for the economy.
It has unlimited dimensions which creates a sick-impotent economy.
Inflation is an invention of interest. (TEXTBOOKS DON'T SAY THIS ANYMORE BUT IT'S TRUE!)
I'm an actuary with a Finance Master's degree.
What I meant, is that Interest is always terrible for economy is not truth... It can be terrible at times but actually taking it is a moral evil, that's why Islam forbids...
Allow me mine, you can have your opinion...
Bro,
Academically and factually, interest is almost always damaging for an economy. It's just an incentive for the investors and nothing more than that.
The thing is that people mix profit with interest, however, profit is productive progress and interest is not. In fact, it's the total opposite of real profit.
I can explain further if you would care to know.
Lets have simple questions by me, I have no authority like you over either finance or economy... OK
What is Interest, explain in simple in relevance with Islam?
Taking interest or giving interest is always damaging for countries? or both are?
If Today Pakistan takes loan of $1000 Billion from IMF with fix charge of 1% on GDP per year how It is damaging for Pakistani Economy?
If Today USA takes loan of $1000 Billion from China with fix charge of 20% on GDP per year how It is not damaging for USA Economy?
Ceteris Paribus covering all, answer me these questions!
If you now think Interest can be beneficial at sometimes, Ok, good for all.
If you still thinks interest is always so bad than. laga reh!
Japan has applied this theory,they dont take inetest almost 0%.
Beta,
This Latin phrase you used is the delusion, it is delusional economics.
Let me explain simply that in the real world there is nothing which is constant, nothing at all.
Not even the value of money. And when this comes to loans, unstable markets lead our precious loan taking entity(country) to draw further loans,
which in turn limits the true economic potential of the entity leading to economic deficiencies like the recession-cycle.
In reality this naive phrase of your's is total BS.
Yes, if everything is stable then there is a possibility of economic growth because only then, and not in any other stituation, our economic entity has a good (or some) chance of knitting in with other entities for prosperity.
Which shows that interest is nothing more than an incentive for investment or an encouragement for interaction in the modern market, however, it in turn actually sickens and destroys the economy of any scale.
'Ceteris Paribus' has no connection to the real world, it's just a mathematical philosophy which was used to quickly assess extremely short term
economic activities (like days or few instances), and it even failed at that.
Therefore you should not act like some wannabe, telling people things you do not know crap about.
Interest kills any involved entity's economic cycle-- period
Bro,
Academically and factually, interest is almost always damaging for an economy. It's just an incentive for the investors and nothing more than that.
The thing is that people mix profit with interest, however, profit is productive progress and interest is not. In fact, it's the total opposite of real profit.
I can explain further if you would care to know.
Lets have simple questions by me, I have no authority like you over either finance or economy... OK
What is Interest, explain in simple in relevance with Islam?
Taking interest or giving interest is always damaging for countries? or both are?
If Today Pakistan takes loan of $1000 Billion from IMF with fix charge of 1% on GDP per year how It is damaging for Pakistani Economy?
If Today USA takes loan of $1000 Billion from China with fix charge of 20% on GDP per year how It is not damaging for USA Economy?
Ceteris Paribus covering all, answer me these questions!
If you now think Interest can be beneficial at sometimes, Ok, good for all.
If you still thinks interest is always so bad than. laga reh!
Not just interest, unstable false paper money has also played an equal part in being the back-bone of inflation.
We must deeply amend this economic system.
Not a single question is answered :13:
Mr Genius, inflation or paper money Hazoor saw ka zamanae me kaha thi, Lets go back at the times of Prophet pbuh
now answer the same questions, or again chicken out because in reality you cant go back at the times of prophet pbuh [hilar]