I felt compelled to respond to a group email, of which I was a recipient, contending that it is immoral to receive interest on any type of loan. My argument is simply that people place a premium on present goods over future goods. No one would pay the same amount for title to an apple 10 years from now as for an apple today. The two goods are not equally serviceable to him. But if we pretend there’s no premium on present goods, we would be willing to pay the same amount for both. We would be willing to pay … Continue reading Want an Apple Today or in 100 Years?