From Upton Sinclair's The Industrial Republic (published in 1907):
I purpose to cite in detail the symptoms of disease and decay in our body politic; before I begin, I wish to put my interpretation of them into one sentence, which a man can carry away with him. I say that the evils of our time are due without exception to one single cause -- that our people are being driven, with constantly increasing rigour, to the ultimately hopeless task of paying interest upon a mass of capital which is increasing at compound interest. [p.105]
I recently came across this statistic: annual interest payments on our national debt per family now exceeds the average annual family income.
Perhaps it's time to consider an equity-based system?
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