I believe accelerating money circulation is
generally a positive development, but it's inherent there must be negative
consequences are resultant. However, freeing money from interest seems somewhat
radical and it's very difficult for me to support that without a great level of
independent investigation. Still, there may be some benefit to freeing money
from interest during certain situation, but those situations can be hard to
define. Even such a broad topic such as recessions are arbitrarily defined. Why
aren't recessions defined with negative economic growth that last only one day
or a year rather than the current definition? Thus, speculative measures can
result to manipulate certain outcomes that can benefit interested parties
because arbitrary definition may, in fact, not reflect reality. Reality is not
static and can be changed very significantly to create a new reality when there
is a need. I do agree with many ideas that were presented such as creating a
global economic system, and I very strongly support integration between the
world's countries. Why do I support such a notion? This is because the autarky
of the Soviet Union was an economic disaster, so I do not believe socialistic
systems are as bad as often portrayed because it seems to be working in China and even in the U.S. as social security that is quite successful and extremely popular. They are certainly not effective without
a mixed economy because capitalism is an integral component of prosperity. The
effect of accelerated money circulation may actually benefit capitalism very
significantly, but socialism in a mixed economy must still be maintained without
it taking up too much power over the economy. I am wary that getting rid of
interest may even give a socialist system too much power over its capitalism
counterpart. As a result, I do understand why Keynes inherently supported such
a monetary system that does not have interest during recessions because it
would strengthen global socialism. Still, I may be wrong because I am not
Keynes himself and the consequences of global socialism are not very clear.
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