If interest were not charged capital would be lieing dormant all over the place unused as capitalists pondered on what they should do with their excess cash. The economy would go back to the 40's. As a wage earner you would not be able to afford a plasma TV. End of conversation.
"Dormant money" could be used in many ways... however a "wealth cap" would prevent this issue in the first instance, defined by a set of redistribution of wealth innitiatives, including for example the exceeding of "net wealth cap allowance" capital being routed into innovative business projects, pensions and health for starters. This leads to the question of what should we do in order to motivate companies from doing any more than what they had to in order to exceed net cap entitlement limits... however this would be managed by government appointed auditors in order to ensure that efficiency and quality remained at a level as defined by an "awarding standard". This would also lead to increased competition and a vibrant highly competitive economy. We need a complete overhaul underpinning the philosophy of wealth in terms of its distribution.
dude, Ive thought long and hard about equality versus efficiency. Wealth cap etc. would just make everything more inefficient, and everyone would go back a few steps in their purchasing power. I respect your intentions. But - you cannot force a plan on selfish people. You will not be able to properly implement socialism or anything close to it properly, when each person is at the same time striving for what is best for them. It is counterintuitive. Make people unselfish - and you dont even need a government. Change needs to come from the bottom. Not the top.
Ofcourse, greed is why we are where we are now. However as our collective higher consciousness infiltrates an increasing number of partially aware minds at the "fragmented level of perception/existence", there will be a wholesale change in the philosophy of wealth to one of nurture and respect, equality and ultimately distribution. There is a war being waged upon higher knowledge, in an attempt to inhibit its deployment (ironically by higher consciousness itself) it is called "academic education", however as time passes, boxed thought consciousness (as a byproduct of academic dogma) reveals itself to be incompetent, the changes will gather additional momentum... and on that note, the majority always wins...
I'm English, I've never heard anything that your current president has ever said. We have Gordon Brown to listen to over here.... not that I listen, I can think for myself.