Quarterly Journal of Austrian Economics
Author:
G. P. Manish
Online Publish Date:
ABSTRACT : In his recent book, Money, Interest and the Structure of Production (Machaj, 2017), Mateusz Machaj advances two significant criticisms of Mises’s theory of time preference and his pure time preference theory of interest (PTPT). First, he claims that time preference only exists under certain unrealistic conditions, and second, that the