Mises Daily
Author:
Robert P. Murphy
Online Publish Date:
THE INTEREST PROBLEM Eugen von Böhm-Bawerk’s three-volume work, Capital and Interest , is a classic, both because of its brilliant analysis and its witty exposition. The first volume provides a history and critique of all preceding explanations of the “interest problem.” For Böhm-Bawerk, the task of the interest theorist was to explain why a