A History of History Rates

Saw this article from Seeking Alpha. David Merkel on a book written by Homer and Sylla on "A History of Interest Rates 4th edtion".

• It is very difficult to eliminate interest. Even when governments or religions try to restrict interest, either in the rate charged or entirely, systems arise to create promises to pay more in the future that than full payment today.
  
• The more technologically advanced economies get, the lower interest rates tend to get.
• Boom/bust cycles are impossible to avoid.
• Governments introduce currencies and often cheat on them (debasement, or inflation of a fiat currency).
• Governments do sometimes fail, whether due to a lost war, civil war, or default, taking their currencies and debt promises with them.
• The economic cycle across the world is usually more correlated than most people believe at any given point in time, even in ancient times. (How much more today… decoupling indeed…)
• Cultures that allowed for a moderate amount of debt financing prospered the most, in general.