Borrow and Lend

From: R Sent: To: Walter Block Subject: Re: Austrian Economics Borrowing lets the borrower consume what the lender has produced without himself producing first. If the borrower was not given a loan he would have to produce first and then exchange to consume. So in case of no credit the borrower would be forced to be more productive if he wanted to consume. So basically the point that I am trying to make is that an economy without credit will be more productive because whoever wants to consume will first have to produce on his own first. But the loan … Continue reading Borrow and Lend