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Any day now (discuss.online)

submitted 3 days ago by VetOfTheSeas@discuss.online to c/whitepeopletwitter@sh.itjust.works

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[–] TubularTittyFrog@lemmy.world 0 points 22 hours ago* (last edited 22 hours ago) (1 children)

Yeah, plenty of economic history about that if you care to read up on it.

without lending and investing, societies don't grow. reason Europe was in a 'dark age' for 800 years was the fact the Church forbade lending and investing, and when they did allow it, starting around 1450, what happened? The Renaissance.

Also why the Golden Age of Islam was 800-1400... when Europe didn't allow lending and investing and the Muslim world did and vastly exceeded them in terms of cultural, scientific, and social achievements. The Renaissance in Europe was a direct result of the allowing of investment and lending.

Also why USSR and other 'communist' societies tended to have shitty grow and eventually economically collapsed, because they didn't have freedom of investment. Also why China decided to start allowing and then saw themselves economically exploded and lift 100s of millions of people out of poverty...

Also why many African countries are still places of abject poverty, because there is no freedom of investment allowed in them.

[–] Goodeye8@piefed.social 1 points 22 hours ago

You think the investing you're doing today is the same they did in the 9th century? I thought it was obvious we were talking about stock investing (on the account of you telling me to invest in stocks), which didn't even exist until the late 18th century.

You can't just take some broad strokes definition of investment to make a point how a specific type of investing doesn't make you a bad person. Had you said "take that money and go to school" that would he investing in yourself and I wouldn't have an issue with that kind of "investment" advice. But that wasn't the investment advice you gave.