In terms of economics, what currently is should be of very little importance: what matters, and that we should seek to understand, is the process that brought it about and that will create what will be in its place.
Although the term “sanctuary” implies comparability to local jurisdictions that refuse to participate in the enforcement of some federal immigration laws, the similarities don’t go beyond the name itself.
If the small sample size of monetary history is any guide, the combination of asset market crashes and high goods inflation empowers sound money forces in the political arena. At the moment, neither of those factors are in play.
In order to expand production and increase productivity — and thus increase the standard of living — it is necessary to use capital. And so it makes sense to pay interest on capital lent, so as to encourage the maintenance and production of capital for the future.
The idea that people are driven by fear of losses more than they are by the potential for gain has attained a sort of dogmatic adherence among behavioral economists. But there's a problem: the theory isn't true.