Bady@lemmy.ml to Asklemmy@lemmy.ml · 3 years agoWhat are some notable scams in history that went unnoticed for so long?message-squaremessage-square104linkfedilinkarrow-up1227arrow-down16
arrow-up1221arrow-down1message-squareWhat are some notable scams in history that went unnoticed for so long?Bady@lemmy.ml to Asklemmy@lemmy.ml · 3 years agomessage-square104linkfedilink
minus-squareRodeo@lemmy.calinkfedilinkarrow-up10arrow-down1·3 years agoFor most of history charging interest was considered very unethical. There’s even a derogatory term for it: usury. It’s a rather recent phenomenon that usury has become acceptable.
minus-squareRich Aten@lemmy.worldlinkfedilinkEnglisharrow-up1·3 years agoOk, but its archaic status as immoral does not make it a “scam” today.
minus-squareRodeo@lemmy.calinkfedilinkarrow-up1·3 years agoIt’s a scam because it’s literally free money for the lender. They do no work, they generate no value, but they still get paid.
minus-squareRich Aten@lemmy.worldlinkfedilinkEnglisharrow-up1·3 years agoProviding someone else money for a time to use for whatever purpose they desire is of no value? I think that literally most every person on the planet would disagree with you. Are you saying you’ve never borrowed money for anything, ever?
For most of history charging interest was considered very unethical. There’s even a derogatory term for it: usury.
It’s a rather recent phenomenon that usury has become acceptable.
Ok, but its archaic status as immoral does not make it a “scam” today.
It’s a scam because it’s literally free money for the lender. They do no work, they generate no value, but they still get paid.
Providing someone else money for a time to use for whatever purpose they desire is of no value? I think that literally most every person on the planet would disagree with you. Are you saying you’ve never borrowed money for anything, ever?