Contracts

The third important element is the revival of contracts such as profit-and-loss sharing trade investment contracts, and partnership manufacturing contracts. In order to achieve that we need the recognition of the wrong and unjust modes of contracting intrinsic to capitalism in order to avoid them.

This vital knowledge is the only route out of the disastrous usurious contracting that has so mesmerised people in our time so that like deer in the headlights of oncoming trucks we are unable to step out of the way of certain disaster.

These irregular contracts, which are so ubiquitous today, include stipulation of an extra increment for one party to the contract at the expense of the other, e.g. interest, and uncertain transactions that are more akin to gambling than honest finance as well as the practice of doing two transactions in one single transaction.

Coins | Markets | Contracts| Open Production |Open Distribution| Endowments

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17 May, 2007 23:07