Letters

Our society is mired in painful division and unrest. While the noise is all around politics, a major, or possibly the major, underlying problem is economics. The divide between those with money and thus with power has accelerated to unsustainable levels. Debt has become the foundation of our entire economy.

Answers that would fundamentally change this equation exist in a surprising place: Sharia-Muslim law.

Readers will have to look up the entire description. The basic premise is that “riba” — charging interest and usury — is exploitative and unjust, and therefore a major sin. There are a variety of alternatives that allow money to be shared so that a business may be started or a home purchased.

Usury and interest were not allowed in Christian-dominated countries until the 1600s. I believe that some conservative groups here still abide by such restrictions. There were once universal usury laws in this country.

While market forces seem the only issue, compound front-loaded interest on mortgages are a major component in affordability. The credit card industry exists because of compound interest. It has become the arbiter of financial progress with the creation of the credit score. It destroys the poor and enables the rich.

This could be changed instantaneously. Simply choose a date and outlaw these practices. There would need to be guardrails on the alternatives, lest one form of exploitation be traded for another. Existing loans would be sunsetted and repaid on their contractual terms, giving anyone involved time to change their practices, forecasting and organization without immediate harm.

Jesus threw the money lenders out of the temple. Perhaps it is time we did the same.

Amy Paradise

Hampton Bays