Sublime

The most important question addressed in this book is whether a capitalist economy can function properly without market-determined interest.

The most important question addressed in this book is whether a capitalist economy can function properly without market-determined interest.

It should never be forgotten that, in its most basic form, investing is always and everywhere about price and value.

The argument of this book is that interest is required to direct the allocation of capital, and that without interest it becomes impossible to value investments. As

Edward Chancellor’s book Capital Returns helped

There is nothing so unstable as a stabilized price level. James Grant, 2014

In our view, their intrinsic valuation is so uncertain that owning the shares is pure speculation.

traditional view that charging for loans was inherently unjust.

When it comes to investment analysis, looking for relevant historical parallels (e.g., comparing the US real estate boom of the 2000s to the Japanese real estate market in the 1980s)