Banks create money based on borrowers’ promise (in exchange for bank loans) to pay back, i.e. money is created out of debt.
The Bible:“One person pretends to be rich, yet has nothing; another pretends to be poor but has great wealth” (Proverbs 13:7). Or: “The rich rules over the poor, and the borrower becomes the lender’s slave.”(Proverbs 22:7).
Buddhism states money complex is a demonic religion – demonic because it cannot absolve our sense of lack.
French classic-liberal Bastiat‘s collection includes an Achilles-Tortoise-styled polemic about money.
P.S. Bush’s grandfather used money helping Hitler rise to power.
Innovation, shminovation. We’re obsessed with innovation. But why care about innovation? Perhaps because it’s comfortable to think innovation is panacea for our social stagnation or economic graveyard called capitalism? Indeed, if capitalism, it must be messy to drive innovation.
Ask yourself, how many Fortune-500 firms breathe innovation? Only few. In them “innovation initiatives face their stiffest resistance after they show hints of success.“
But, not all lost: creative capitalism + social innovation = new social enterprise. Sure, capitalism. Even Bible indirectly condones value-based, compassionate capitalism, for which we need to be deliberate and motivated.
Oh, capitalism inspires poetry too.