Nothing.
In capitalism, it does not matter if the borrower is wholly unqualified, because what is being lent is literally nothing. It costs nothing to lend nothing, but when the borrower defaults, his actual assets are forfeit, beyond the nothing he borrowed, whatever nominal valuation assigned. This is one of the myriad ways in which usury concentrates power in ever fewer hands. There is no definition of capitalism that does not include charging interest on loans, a practice that is inherently evil in all places and times, at all rates and duration, on any amount. (I use "evil" in the theological sense of "absence of good").
Feel free to forward this by email to three of your friends.
In capitalism, it does not matter if the borrower is wholly unqualified, because what is being lent is literally nothing. It costs nothing to lend nothing, but when the borrower defaults, his actual assets are forfeit, beyond the nothing he borrowed, whatever nominal valuation assigned. This is one of the myriad ways in which usury concentrates power in ever fewer hands. There is no definition of capitalism that does not include charging interest on loans, a practice that is inherently evil in all places and times, at all rates and duration, on any amount. (I use "evil" in the theological sense of "absence of good").
In a free market, interest agreements would simply be ignored, with impunity, just as gambling debts are ignored universally today. Capitalists would go away, perhaps to Riga. Capitalism is far more the enemy of free markets than communism, which has had the decency to evaporate after admitting failure. (Marxists always had the advantage of at least getting their facts straight.)
We all love a system that works for us, even if it doesn't, as long as we are told it does.
Lenders could care less if this group of nincompoops pays off or not, nonpayment yields no inconvenience. And tomorrow there is yet another round of more "something for nothing" that ever invigorates capitalism. No lottery payout today? Well, we never bought a ticket anyway, and tomorrow there will be a payout, just as there was for thousands of days before, with never buying a ticket.
Feel free to forward this by email to three of your friends.
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