[ExI] How do we construct workable institutions and ethical behaviors?

[Stefano Vaj]

On 11 December 2011 06:31, Jeff Davis <jrd1415 at gmail.com> wrote:

> I think the issuance of "bad" mortgages came from entrepreneurial
> Randians (thieves) in the mortgage business, responding to Wall
> Steet's insatiable demand for "more" -- as in "more mortgage paper and
> we won't be asking any questions."
>

Mmhhh. I do not know about "Randians" (see and Marx and Marxists, Christ
and catholics, etc.). But as to Ayn Rand herself, the hero of the
Fountainhead is exactly an individual who suffers from marginalisation,
poverty and lack of success, but for the happy end, exactly because he
refuses to comply to what is expected from him.

Moreover, how would those issuing bad mortgage be "thieves"?

If anything, I would consider their activity as "usury". Now, usury may
considered as an ethically dubious business, but what about a society that
allows and "regulate", so to say, it?

The series "Money as Debt" seems to be persuasive enough as to the fact
that what is really flawed is our economic/monetary system, not supposedly
deviant individuals.

-- 
Stefano Vaj
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