"Clearly, the power of the lender to command interest has nothing to do with the use to which the loan is put. Whether the borrower uses it to build a factory or acquire a dwelling house, whether he spends it on tools of his trade or gambling on horses, will make no difference… The coupling of interest with capital has been an unfortunate error prolific in its progeny of falsehoods. It arises from confusing the power to exact payment for loans with the use to which some of the loans are put… It gives to the idea of a loan a quality it should not possess, a suggestion of productiveness and of social benefit, obscuring the indebtedness and dependence which the loan so plainly advertises."
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People from LondonPhilosophers from ScotlandPoliticians from ScotlandPeople from GlasgowEducators from Scotland
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Leon MacLaren, Nature of Society and Other Essays, p169
https://en.wikiquote.org/wiki/Leon_MacLaren
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Leon MacLaren
Leon MacLaren (24 September 1910 – 24 June 1994) was British philosopher and the founder of the School of Economic Science (SES). MacLaren was inspired by Henry George, Socrates, Dr Francis Roles, Pyotr Ouspensky, Maharishi Mahesh Yogi, and finally the philosophy of Advaita Vedānta through the Shankaracharyas of Jyoti Math.
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