The Pure Time-preference Theory Of Interest

Authors: Jeffrey M. Herbener
Source: mises.org
ISBN-10: 1610162366
ISBN-13: 9781610162364
Keywords: interest, theory, preference, time
Formats:PDF
Copyrights: Copyrighted

It’s about time. Really! An entire book fleshing out the pure time-preference theory of interest has finally been assembled. The present crop of Keynesians play with interest rates believing they can create prosperity without a sound theoretical basis for how the market determines rates. It is the Austrian insight that present goods have a higher value than future goods, while the followers of Lord Keynes foolishly try to abolish human action.

Giants of the Austrian world have been assembled for the task, along with a fresh new introduction by Jeffrey Herbener. Rothbard, Mises, Garrison, Kirzner and Fetter systematically provide the underpinnings of a theory that, as Israel Kirzner writes, “for almost a century a particular theory of interest has been again and again discussed, refuted, defended, ignored, forgotten, and rediscovered; somehow it has managed to survive.”

Find out why!

From Douglas French’s foreward:

• Foreword by Douglas E. French • Introduction by Jeffrey M. Herbener

  1. Time Preference - By Murray N. Rothbard
  2. Human Action: The Rate of Interest - By Ludwig von Mises
  3. In Defense of the Misesian Theory of Interest - By Roger W. Garrison
  4. The Pure Time-Preference Theory of Interest: An Attempt at Clarification - By Israel M. Kirzner
  5. Interest Theories, Old and New - By Frank A. Fetter
  6. Professor Rothbard and the Theory of Interest - By Roger W. Garrison

• Bibliography • Index


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