The End of Money
See, this is why every major religion in the world outlaws usury. Because if any one single person begins to charge interest on loans, they will eventually own everything in the world. Even Aristotle condemns the practice of charging interest on a loan, but for some reason, the charging of interest has become the backbone of the world’s economy. No wonder everything is out of whack.
Also, consider Dr. Albert Bartlett’s analogy stated in the discussion, which illustrates that the growth of money is exponential:
“Bacteria grow by doubling. One bacterium divides to become two, the two divide to become 4, become 8, 16 and so on. Suppose we had bacteria that doubled in number this way every minute. Suppose we put one of these bacterium into an empty bottle at eleven in the morning, and then observe that the bottle is full at twelve noon. There’s our case of just ordinary steady growth, it has a doubling time of one minuet, and it’s in the finite environment of one bottle. I want to ask you two questions.
Number one; at which time was the bottle half full? Well, would you believe 11:59, one minute before 12, because they double in number every minute?
Second Question; if you were an average bacterium in that bottle at what time would you first realize that you were running out of space? Well let’s just look at the last minute in the bottle. At 12 noon its full, one minute before its half full, 2 minutes before its ¼ full, then 1/8th, then a 1/16th. Let me ask you, at 5 minutes before 12 when the bottle is only 3% full and is 97% open space just yearning for development, how many of you would realize there’s a problem?
And that’s it in a nutshell right there. Exponential functions are sneaky buggers. One minute everything seems fine, the next minute your flask is full and there’s nowhere left to grow.
So, who cares, right? Perhaps you’re thinking that it’s possible, just this one time in the entire known universe of experience, for something to expand infinitely, forever. But what happens if that’s not the case? What happens if a monetary system that must expand can’t? Then what? How might that end come about? And when?”
Exponential, but not consistent, not smooth, not continuous.