Re: The Essential Principle Of Banking - [Was: Re: elasticity of

["Harry Veeder" <eo200@xxxxxxxxxxxxxxxxxxx>]

The difference between "consumer credit" and
"entrepeneurial credit" is one of interest.

"Consumer credit" is really "consumer interest".

A consumer spends interest to pursue
intrinsic rewards. ( "I enjoyed that movie" )

A entrepeneur spends credit to pursue
extrinsic rewards. (i.e. profit or "They like my product")

Harry Veeder

----------
>From: GGard97342@xxxxxx
>To: pkt@xxxxxxxxxxxxxxxx
>Subject: Re: The Essential Principle Of Banking - [Was: Re: elasticity  of
production}
>Date: Wed, Mar 21, 2001, 1:44 pm
>

>In a message dated 16/03/01 20:41:24 GMT Standard Time, tomasson@xxxxxxxx
>writes:
>
>> In my view, the distinction between (a) consumer credit and S&L operations
>>  and (b) entrepreneurial credit and Commercial Bank operations is essential
>>  for coherent analytical treatment of Interest.
>>
>>  Gunnar
>
>Hear, hear!
>
>Geoff
>