Show less interest
Donella Meadows thinks it is one of the worst ideas humanity has had. Aristotle wasn’t fond of it either. And acknowledging the finite planet it is hard not to agree.
The idea of interest not only forces things to grow, as you have to pay back more than you borrowed, which will be impossible on a finite planet, it also kills of our golden gooses of resources when they are put in a stressful reproduction rate race against it. Furthermore it treats our coming generations unkindly when it discounts their future as being less valuable then our present.
So if we don’t want to tell our children that their future present isn’t going to be as valuable as our present the practical consequence is that we have to let go of the magical powers we have given money. And people have. They, like Evergreen Direct Investing and Triodos Bank, are those who believe that we can prosper within limits in the long term!
References and quotes