If you take a loan from me you better be prepared to compensate me for it. Or buy only what you can afford. Mind you, I consider myself a lefty but that’s just common sense.
I think what they’re saying is that despite being “left”, they’re aware that in an inflationary economy an “interest-free loan” isn’t merely a opportunity-cost for the lender, it’s a concrete cost.
"they’re aware that in an inflationary economy an “interest-free loan” isn’t merely a opportunity-cost for the lender, it’s a concrete cost.
Is merely repeating a popular myth. The existence of an inflationary economy is a purely rhetorical invention. As is the idea of a concrete cost. Opportunity costs have the same story. They’re just ways of understanding the world but they are not objectively true.
So while that user may believe the myth that you articulated, that myth is not itself true.
If you take a loan from me you better be prepared to compensate me for it. Or buy only what you can afford. Mind you, I consider myself a lefty but that’s just common sense.
interest bearing loans are not leftist. please don’t associate your bad ethics with my politics.
I think what they’re saying is that despite being “left”, they’re aware that in an inflationary economy an “interest-free loan” isn’t merely a opportunity-cost for the lender, it’s a concrete cost.
They are indeed! Thanks for the translation. 👍
economics theory is just story telling. it’s not science.
also, being a leftist means opposing rent seeking.
Can you elaborate on your first point and how you relate it to this context?
saying
Is merely repeating a popular myth. The existence of an inflationary economy is a purely rhetorical invention. As is the idea of a concrete cost. Opportunity costs have the same story. They’re just ways of understanding the world but they are not objectively true.
So while that user may believe the myth that you articulated, that myth is not itself true.
Thank you for clarifying what you are thinking