Outro for The Economics of Exploitation: A History of Usury in America
As the U.S. stands on the cusp of further financial innovation with digital currencies and decentralized finance, the lessons of history remain more relevant than ever. The practice of usury, cloaked in the language of free markets and financial growth, continues to challenge policymakers, economists, and consumers alike. While the Federal Reserve and other central institutions seek to stabilize the economy, they must also grapple with the persistent risk of exploitation through high-interest lending.
The Economics of Exploitation illustrates that the story of usury in America is far from over. As the debate over ethical lending practices continues to evolve, new technologies and systems may either curb financial exploitation or allow it to flourish in new and unpredictable ways. Understanding this history gives us the tools to create a more equitable future—one where access to credit does not come at the cost of financial bondage.
In the end, the challenge remains: can we build a financial system that serves both prosperity and fairness, or will the economics of exploitation continue to dominate America’s financial future?
Blurb for The Economics of Exploitation: A History of Usury in America
From the dissolution of America's first two national banks to the secret creation of the Federal Reserve, The Economics of Exploitation traces the long and contentious history of usury in the United States. This comprehensive examination delves into how the practice of charging excessive interest—once condemned as immoral—has become a core element of America's financial system.
Through gripping historical narratives and sharp analysis, this book uncovers the battle between economic growth and exploitation, revealing how modern practices like payday loans, credit cards, and subprime mortgages reflect centuries-old tensions. As the country moves toward a digital banking future, The Economics of Exploitation provides critical insights into the risks and rewards of our evolving financial landscape.
A must-read for anyone seeking to understand the intersection of morality, power, and money in America’s past, present, and future.