Debt: The First 5,000 Years,Updated and Expanded

Economist and noted Islamic Finance scholar Mohammad Siddiqi dryly makes this connection in, A Vision for the Future of Islamic Economics,[92] noting that, “almost all money in circulation is interest bearing debt transferring wealth from fund users to the owners of capital. It is not technically necessary for society’s means of payment to play thi

Money is based on two universal principles: a. Universal convertibility: with money as an alchemist, you can turn land into loyalty, justice into health, and violence into knowledge. b. Universal trust: with money as a go-between, any two people can cooperate on any project.

Conwell summarized the links between wealth and godliness: “To make money honestly is to preach the gospel.”34 Wealth was no longer a means of liberating oneself from labor (or from the necessity for instrumental or market-based reasoning). Instead of allowing one the leisure to cultivate one’s self and serve one’s community, wealth became, in and

The most important question addressed in this book is whether a capitalist economy can function properly without market-determined interest.