ISBN: 1610162366, 9781610162364
Author: Jeffrey M. Herbener
Source: mises.org
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 L......