> While Muslims agree that riba is prohibited, not all agree on what precisely it is.[2][3] It is often used as an Islamic term for interest charged on loans,[Note 1] and the belief this is based on — that there is a consensus among Muslims that all loan/bank interest is riba — forms the basis of a $2 trillion Islamic banking industry
This is enough to negate what you said here:
>it does not. there is absolutely no basis for "islam forbits interest".
Could you explain what you mean here?
>the problem didn't exist till then so someone just literally invented it and then sold a solution
What problem didn't exist and what was invented and what was the solution?
sorry, i don't believe inequality is rising, at least in ways that matter.
in the last 50 years, a substantial number of people were pulled out of poverty.
Obviously this would mean that countries that previously relied on subsidised labour from those third world countries would have to start paying up. I'm not suggesting that it is a zero sum game however.
Indians are hired because the wages they ask are much lower. Do you agree that this benefits citizens of Australia too? Australia has a small population, it can not develop a work force with specialised skills. If it could, then the wages asked by its citizens would be much higher, and these costs would be passed to the regular citizen.
what could the gastroenterologist possibly do to help in this case? i do have GERD and fragmented sleep, after having gone to multiple gastroenterologists, i still haven't got help for this particular issue. any suggestions? it would massively help me.
Let's say there's a new company that develops technology to grow apples efficiently.
This company will be eventually able to sell its technology. But why would apple growing companies buy it? They can grow cheaper apples and thereby make more profits. So it follows that our apple tech company will be able to make profits.
Central to this example is that apples are valued by people. People WANT apples. And if they can eventually buy it for cheaper they are better off.
Now from the shares point of view, why will I buy shares of apple tech? Because I believe that this company will actually develop the technology, go on to make actual tangible profits by selling to companies. And I believe this because I believe apples are actually valued by people.
Now what will happen to the society if this company goes down under? The society on the whole lost the opportunity for cheaper apples (again valuable). And obviously the few investors who had put the money lost part of their wealth. (Similar to burning one's money)
So to answer the question, where did the wealth go? I think it's equivalent to a situation where if all my wealth were in eggs but they all rotted away.
Now to ascertain whether wealth vanishing is a good or a bad thing, i think that is directly dependent on your subjective opinion of the value the wealth was attached to. In the case of apples, it would clearly be a net loss to society.
But if we take shares of a porn company going down, there was no net loss to society because my subjective opinion on the value of porn is 0 or negative.
you can contact me on my email, that would be soo helpful