𝗔𝗿𝗲 𝗕𝗮𝗻𝗸𝗲𝗿𝘀 𝘁𝗵𝗲 𝗩𝗶𝗹𝗹𝗮𝗶𝗻𝘀? (𝗣𝗮𝗿𝘁 𝟮)

Next Tuesday
𝗔𝗿𝗲 𝗕𝗮𝗻𝗸𝗲𝗿𝘀 𝘁𝗵𝗲 𝗩𝗶𝗹𝗹𝗮𝗶𝗻𝘀? (𝗣𝗮𝗿𝘁 𝟮)

When the economy gets wobbling or when the distribution of wealth is discussed, rich people and especially financiers are usually pointed to. Their greed is standing in the way to a more prosperous and equal society. Their gambling is ruining the world and the environment.

But Yaron Brook claims that we have a completely wrong picture of "money lenders" in particular. There is a long tradition of hating them. It's intertwined with the history of antisemitism the anti-capitalistic movement by Marx and others has cashed in on it. Our view is wrong because their contribution to society and the economy is not understood.

Money lending is a branch of the economy that is essential to the rest of it. It is the driving motor of the whole vehicle. Companies borrow money to create amazing production lines and products, enriching the world. Consumers borrow money to buy a house or a trip to New York much earlier than they could otherwise.

Why is greed bad and is it? Ayn Rand argues that selfishness and therefore greed are good, since life is about happiness and flourishing. Is money evil? As Rand's fictional character Franciso d'Anconia from Atlas Shrugged said.. we have the choice between the dollar and the whip. And we should choose wisely. Let's discuss!

Read Yaron Brook's essay "𝗧𝗵𝗲 𝗠𝗼𝗿𝗮𝗹𝗶𝘁𝘆 𝗼𝗳 𝗠𝗼𝗻𝗲𝘆𝗹𝗲𝗻𝗱𝗶𝗻𝗴: 𝗔 𝗦𝗵𝗼𝗿𝘁 𝗛𝗶𝘀𝘁𝗼𝗿𝘆" and come to the discussion. Here are the three parts: https://newideal.aynrand.org/the-morality-of-moneylending-a-short-history-part-1
https://newideal.aynrand.org/the-morality-of-moneylending-a-short-history-part-2
https://newideal.aynrand.org/the-morality-of-moneylending-a-short-history-part-3

You should read at least part 2, next best is 2&3 and the best is of course all three parts.

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Tuesday, June 17, 2025, 6.30pm-8.30pm
Hayek Saal, Grünangergasse 1/15-1, 1010 Wien
Enter the green gate, on the left ring at Hayek Institute, Hayek Saal is on the first floor to the right