Capital and Interest Theory

Drug warriors rely on bad and manipulated data to make the claim that respecting private property rights in Colorado is “terrible public policy,” w

The purpose of this paper is to explain the marginal efficiency of capital. The net present value diagram is derived and used to illustrate how the interest rate regulates the intertemporal allocation of resources.

Last week’s decision by the ECB to cross the border into negative territory marks a historic event and shows just how far central banks are willing to go to destroy the global economy.

Low interest rates combined with high-risk fractional reserve banking creates a powder keg on which we’re sitting today, writes Frank Hollenbeck.

Do we now have the Third Culture that C. P. Snow saw coming to life? It would appear so.

Booms and busts are brewing in the real economy, but computers that can quickly solve math problems won’t tell you much about how business cycles w

As substantial as economist as Schumpeter could claim that interest is a disequilibrium phenomenon and fantasize about a long-run equilibrium where market forces have pushed the interest rate to zero. 

Time and Money is a multifaceted achievement. Within its pages the reader will encounter business cycle theory, capital theory, comparative economic thought

Roger Garrison (2001) provides a welcome diagrammatic exposition of Austrian, capital-based macroeconomics. The exposition attempts to account not only for Austrian business cycles (ABCs), but also for long-run, secular growth.

In response to Topan and Păun in this issue, this comment upholds two lines of argument in defense of the Pure Time Preference Theory of interest. Ludwig von Mises claimed that time preference is a fundamental concept of human action.