The new system should target the detrimental effects of moneylending by freeing borrowers from high interest rates and any pressures or legal requirements to repay loans.
Mike Mussa, a former chief economist at the International Monetary Fund, says through interest rate cuts the major economies have already demonstrated their capacity to act cooperatively.
According to the current theory,time is considered as the major variable while interest rate has been supposed as constant which,however is uncomplying with the realistic society economy system.