Interest on savings accounts and loans seems like a simple concept. Yet, the powers-that-be can simply fiddle with certain interest rate numbers and bring whole countries to their knees! Understanding interest rates can be vital both to our individual financial health as well as a large economy. Let's answer some questions: What is interest? What should normally determine the rate of interest? Is it actually immoral to charge interest? Should a banking monopoly or government be in charge of setting interest rates?

Sources Cited: Shawn Ritenour, Foundations of Economics: The Christian View (Eugene, Oreg.: Wipf & Stock, 2009) Kindle edition, 192-193. D. T. Armentano, "The Economics of Price Fixing," Foundation for Economic Education, accessed April 20, 2020, https://fee.org/articles/the-economics-of-price-fixing (https://fee.org/articles/the-economics-of-price-fixing).  * Like what you hear? https://www.truthspresso.com/donate (Donate) to Truthspresso and give a shot of support!

---