Time Preference Theory and Its Critics
A private graduate seminar presented at Mises University 2019.
A private graduate seminar presented at Mises University 2019.
Ignoring time preference is the fundamental error behind monetary planning. It is why in a successful economy, monetary intervention by the state is kept to a bare minimum, or preferably banished altogether.
Bob reviews the contributions of Böhm-Bawerk, Fetter, and Mises, and explains interest from an Austrian approach.
Bob continues his three-part series devoted to capital and interest theory in the tradition of the Austrian school.
The fallacy that labor-saving machines create technological unemployment has not only been disproved by theory but also by the whole history of mankind.
Bob begins his three-part series devoted to Capital and Interest Theory in the tradition of the Austrian School.