More on monetary interest and anarchism
I’d like to briefly extend upon what I wrote a few posts ago about monetary interest. My reconciliation of the position against monetary interest of many early individualist anarchists with modern market anarchism is, I believe, supported very well by this quote from Tucker’s “The Abolition of Interest”
“No Anarchist disputes that it is perfectly legitimate […] to borrow either of the cook or of the bank upon such terms as may be agreed upon in a free market. The complaint of Anarchism is that the market is not free, and that the transactions effected therein are necessarily tainted with injustice.”
So, we see here a condemnation of monetary interest that is not based on the practice itself, but on its role within State-capitalism and not precluding the practice within a genuine free market — precisely as I elaborated on earlier in an entirely Rothbardian manner.
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