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wrong argument against interest

Reader comment on item: Islamic Economics: What Does It Mean?
in response to reader comment: Wrong argument against Interest

Submitted by Israrul Haque (Saudi Arabia), Apr 20, 2013 at 07:24

Mr. Prashant, you are absolutely incorrect. Rent is charged on the usufruct of the apartment or any building whatsoever, whereas money has no usufruct (utility ) of its own hence rent cannot accrue to money therefore rent can be clearly distinguished from interest. Interest is an increase on the principal irrespective of the operational result. If the operational result ends in negative what is the logic of paying any interest to the owner of the capital. According to Keynes the father of Macro Economics it is one of the most destablizing factor and the most ruthless tool for devastating the economies. The financial crises of todays are the derivatives of interest-based system.


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