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Reading the [economic] discussion preceding above reminded me of some of the arguments put forward by Robert A. Heinlein in his first "lost" novel "For Us, The Living" (published in 2003 for the first time) - quite an interesting read.
Heinlein postulates in his book that private credit (i.e. lending by banks) is one of the drivers that lead to the economic bankcrupty of many households and corporations - as interest and charge remove production from the economy that is multiplied over successive cycles. According to the theory, credit should only be extended by governments - in part as an distribution of "excess capacity" generated by overproduction (Production i.e. supply - exceeding demand) to the public (this also equates to [massive] government spending), to cover the gap between production (supply) and the demand for that production. The idea is to provide means to particpate in the production generated to every citizen. All very provocative and utopian ... but clashing with just about every established economic theory out there ...
Still a good read. It would be interesting to hear your take on this theory [and the book, if you manage to find it]
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