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    Compound Interest: An Essay
    Unavailable
    Compound Interest: An Essay
    Unavailable
    Compound Interest: An Essay
    Ebook12 pages7 minutes

    Compound Interest: An Essay

    By Edward E. Rochon

    ()

    Currently unavailable

    Currently unavailable

    About this ebook

    The preface notes the debate about the ethics of lending at interest, and justifications to get around the ethical matters. It introduces the topic, condemning compound interest. Chapter 1 discusses the topic of the cost of money, a fee, rather than true interest. Chapter 2 notes that both lender and borrower are at risk when lending and borrowing money and the consequences. Chapter 3 goes into the matter of what is fair with respect to economic pricing and loans, and proffers that compound interest is not justified by the quandary. Chapter 4 notes that compound interest has more to do with relative wealth, the same economic pie redistributed to the detriment of society, rather than the generation of absolute wealth that increases the size or number of pies available. It suggests that banks charging simple interest on loans, while investing assets in entrepreneurial activity as a partner will generate absolute wealth and remove bitterness against lenders. A warning of consequences that invariably follow, if wealth generation is not the primary goal of state and business.

    LanguageEnglish
    PublisherEdward E. Rochon
    Release dateFeb 8, 2015
    ISBN9781311768308
    Unavailable
    Compound Interest: An Essay
    Author

    Edward E. Rochon

    I write for my health and the health of the world. Often the cure rivals the disease in grief and aches. My writing career started at twelve when I attempted to write a sequel to Huckleberry Finn but never finished it. My writings have included poetry, plays, a novel, non-fiction and writing newsletters for here and there. Recently, I am dabbling into short stories. Apart from newsletters, nothing has been published in print. I bought an audio recording of one of my poems but threw it away in disgust due to an inappropriate reading by the narrator. 'Contra Pantheism...' was my first eBook. About a hundred eBooks have been published since including some books of verse, and my essays collected into five volumes, and one volume of collected poems. A few other types of literature are on my list of published works. My essays deal with fundamental questions of philosophy as well as natural philosophy (science.) On the whole, my works are as far above the writings of Plato and Aristotle as the material power of the United States is over that of Ancient Greece. I once asked myself if I had ever written anything memorable, but couldn't remember exactly what I had written. I started to check my manuscripts but stopped as it seemed the answer to the question was obvious. Gore Vidal mentioned in one of his memoirs that writers tend to forget what they write and are a bad source to ask about their works. Gore knew a lot of writers. I have not and may have been a bit hard on myself. Apart from self-improvement and maybe making a few bucks, my main goal is to bring about a golden age for mankind. Being a man, this sounds appealing. It is pointless to desist and all small measures are worth the effort. Albert Camus thought suicide the only serious philosophical question. He was a fool and died young. Suicide is a waste of time. The most important functional question is: How do I get what I want? The one question that trumps this is the ultimate question of intent: What should I want? As Goethe pointed out: Be careful what you wish for in your youth, you might get it in middle age.

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