This is a strange article. It’s by Michel Bauwens (founder of the P2P Foundation).
“If you ask for interest in a static pre-modern society and you need to repay more than you have borrowed, then you can only take it from someone else, thereby destroying the social fabric of non-growing societies.”
What – so a country’s legal and educational systems collapse because someone pays interest to someone else? I’m baffled. Anyway, the next sentence reads:
“This is why interest is forbidden in Islam . . . . Indeed, the only way you can pay back more than that you borrow without taking it directly from others, is by endlessly growing the economy.”
I’m baffled (for a second time).
In a “non-growing” economy, as long as interest earners spend the money they get from interest, that money just keeps circulating. I.e. a non-growing economy is perfectly compatible with interest.