The problem is time preference exists in any case. People will find ways to trade that are proxies for exchanging time preference even without formal loans, and it will have roughly the same effect or worse.
Next we'll be marxists and say renting is bad. And people without means will become literal peasants living in shelter that at most represents 10 days of man hours. People can live like that. They did for a long time. Some of them live pretty healthy lives very connected with nature.
But do you know what happens when you have people in those conditions with our current population density. Let me tell you. There is a lot of poop. And a lot of drinking poop.
Rent is proof that every other form of time preference exchange besides loans is worse in every dimension we hate loans. Next on the list is selling your children to be slaves for a months' worth of food. Almost everything we hate about the past and the much more rigid immobility of class from back then comes from worse forms of time preference exchange.
Like do you want actual slavery, because that is what ends up happening. People end up desperate and they seek out deals that are bad in the long term. When you restrict their options it doesn't stop them from making bad deals. They just accept worse ones now that they have fewer options.
Societies have to structure themselves around the fact that people have different time preference and there are going to be people at the far extremes for both. The way past society did that was slavery.
Renting is bad. It favors resource hoarders over productive workers and it drives up the cost of housing. Usury and land lording cause slavery. Not the reverse. Thats why the medieval period had such wealth and power disparity.
And dont forget insurance. Insurance causes the same problems.
Rent seeking behaviors like usury and insurance are the enemies of cooperative society. They disincentivize human cooperation.
Everything weve achieved above nigger level society is due to our high trust/high cooperation culture. All this is threatened by these behaviors. The are sophisticated scams. Theres no point in “reforming” these industries because they are inherently bad, which is why many religions banned them. Viva Luigi!
[ + ] x0x7
[ - ] x0x7 0 points 5 monthsJan 2, 2025 16:35:15 ago (+0/-0)*
Next we'll be marxists and say renting is bad. And people without means will become literal peasants living in shelter that at most represents 10 days of man hours. People can live like that. They did for a long time. Some of them live pretty healthy lives very connected with nature.
But do you know what happens when you have people in those conditions with our current population density. Let me tell you. There is a lot of poop. And a lot of drinking poop.
Rent is proof that every other form of time preference exchange besides loans is worse in every dimension we hate loans. Next on the list is selling your children to be slaves for a months' worth of food. Almost everything we hate about the past and the much more rigid immobility of class from back then comes from worse forms of time preference exchange.
Like do you want actual slavery, because that is what ends up happening. People end up desperate and they seek out deals that are bad in the long term. When you restrict their options it doesn't stop them from making bad deals. They just accept worse ones now that they have fewer options.
Societies have to structure themselves around the fact that people have different time preference and there are going to be people at the far extremes for both. The way past society did that was slavery.
[ + ] PostWallHelena
[ - ] PostWallHelena 0 points 5 monthsJan 2, 2025 20:39:02 ago (+0/-0)
Renting is bad. It favors resource hoarders over productive workers and it drives up the cost of housing. Usury and land lording cause slavery. Not the reverse. Thats why the medieval period had such wealth and power disparity.
[ + ] MaryXmas
[ - ] MaryXmas 0 points 5 monthsJan 3, 2025 17:36:30 ago (+0/-0)
[ + ] Tallest_Skil
[ - ] Tallest_Skil 1 point 5 monthsJan 2, 2025 12:59:39 ago (+1/-0)
[ + ] PostWallHelena
[ - ] PostWallHelena 2 points 5 monthsJan 2, 2025 15:24:36 ago (+2/-0)
Rent seeking behaviors like usury and insurance are the enemies of cooperative society. They disincentivize human cooperation.
Everything weve achieved above nigger level society is due to our high trust/high cooperation culture. All this is threatened by these behaviors. The are sophisticated scams. Theres no point in “reforming” these industries because they are inherently bad, which is why many religions banned them. Viva Luigi!
[ + ] SirNiggsalot
[ - ] SirNiggsalot 3 points 5 monthsJan 2, 2025 12:24:15 ago (+3/-0)