Capital and Interest Theory

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

Garrison has a vivid sense for the necessity of adequate pedagogy to communicate Austrian ideas about the working of the economy, and he is very conscious of the power of symbols. 

Austrians frequently lament the absence of an Austrian undergraduate money-macro curriculum, especially at the intermediate level. 

Peter Lewin’s Capital in Disequilibrium is an award-winning, extensive survey of capital theory, which touches on and summarizes an array of issues and phenomena.

Factoring into our national accounting scheme the true value of nonrenewable resources and the imputed value of natural-resource degradation is seen as an essential corrective for the myopia that would otherwise distort the market process.  

 According to this writer Garrison’s Time and Money is precisely what it purports to be: an exercise in comparative frameworks. Even if it should be recognized that the comparison