Pure Time-Preference Theory of Interest, The
Author: Jeffrey Herbener
Publisher: Ludwig von Mises Institute
Published: 2011-12-15
Total Pages: 189
ISBN-13: 1610162366
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Author: Jeffrey Herbener
Publisher: Ludwig von Mises Institute
Published: 2011-12-15
Total Pages: 189
ISBN-13: 1610162366
DOWNLOAD EBOOKAuthor: Pavel Potuzak
Publisher:
Published: 2016
Total Pages: 25
ISBN-13:
DOWNLOAD EBOOKThe pure time preference theory of Ludwig von Mises and Murray N. Rothbard is a cornerstone of the Austrian theory of interest. In the past, several attempts were made to demonstrate that this theory might be inconsistent. In this paper, the original Böhm-Bawerk theory is illustrated in a simple neoclassical model, and it is shown that there might be a fundamental flaw in the pure time preference theory. It is suggested that the notions of want and good must be explicitly separated, and it is concluded that the time preference as well as the subjective exchange ratio between present goods and future goods may take on any value.
Author: Israel M. Kirzner
Publisher:
Published: 1983
Total Pages: 63
ISBN-13:
DOWNLOAD EBOOKAuthor: Cem Eyerci
Publisher: Springer Nature
Published: 2021-07-07
Total Pages: 177
ISBN-13: 3030787028
DOWNLOAD EBOOKInterest has always been a part of humans' daily economic life, and the concept of interest has attracted intense attention from economists, philosophers, religious scholars and lawmakers. This book analyses the issue of prohibition of interest through the lens of conventional economics and then makes a comparison with the position of Islamic economists. It evaluates the theory of interest presented by Böhm-Bawerk, which is the most respected and applicable theory at present. It provides an in-depth analysis of the current literature, and it is the first book to scrutinize the interpretation of Islamic economists on the concepts of time preference and interest rate control. This book will be of interest to academics and students of economics and Islamic economics.
Author: Frank A. Fetter
Publisher: Ludwig von Mises Institute
Published: 1977
Total Pages: 412
ISBN-13: 1610165047
DOWNLOAD EBOOKAuthor: Eugen von Böhm-Bawerk
Publisher: London ; New York : Macmillan and Company
Published: 1890
Total Pages: 488
ISBN-13:
DOWNLOAD EBOOKEugen von Böhm-Bawerk discusses the history and principles of interest, offering piercing critiques of failed theories and implementations from past eras. The author's investigations range as far back as antiquity and the Middle Ages; how civilizations of old dealt - or failed to deal - with interest in concept and practice. Interest is earned on existing capital, without the owner of said capital engaging in work or activity, an example being money invested in government bonds. Why this income should exist is the initial question posed, and an answer is sought through investigating several facets of the economy. Böhm-Bawerk's thesis is lengthy and meticulous, ranging across theories of production, the uses with which capital can be employed, the relevance of labor and ideas put across by scholars. He investigates the relationship of interest to debt, exploring whether interest itself is a rent on capital, and what this means in the short and long term. The author is keen to address and debunk ideas, such as the Marxist notion that the interest earned with capital is a manifestation of worker exploitation. Published in the 1880s, Böhm-Bawerk's work was among the first to tackle the subject of interest while recognizing the significance of interest rates in the modern economy. His ideas would go on to inspire future works in the Austrian School of economics, influencing later thinkers such as Friedrich Hayek who elaborated upon related economic topics.
Author: F. A. Hayek
Publisher: Routledge
Published: 2019-08-08
Total Pages: 461
ISBN-13: 1136748865
DOWNLOAD EBOOKF. A. Hayek’s long-overlooked volume, was his most detailed work in economic theory. Originally published in 1941 when fashionable economic thought had shifted to John Maynard Keynes, Hayek’s manifesto of capital theory is now available again for today’s students and economists to discover. With a new introduction by Hayek expert Lawrence H. White, who firmly situates the book not only in historical and theoretical context but within Hayek’s own life and his struggle to complete the manuscript, this edition commemorates the celebrated scholar’s last major work in economics. Offering a detailed account of the equilibrium relationships between inputs and outputs in an economy, Hayek’s stated objective was to make capital theory "useful for the analysis of the monetary phenomena of the real world.” His ambitious goal was nothing less than to develop a capital theory that could be fully integrated into the business cycle theory.
Author: Ingo Pellengahr
Publisher: Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften
Published: 1996
Total Pages: 0
ISBN-13: 9783631486078
DOWNLOAD EBOOKOriginally presented as the author's thesis (doctoral)--Universität Frankfurt am Main, 1993. Includes bibliographical references (p. 85-95).
Author: Frank H. Knight
Publisher: Cosimo, Inc.
Published: 2006-11-01
Total Pages: 401
ISBN-13: 1602060053
DOWNLOAD EBOOKA timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Author: Christopher P. Chambers
Publisher: Cambridge University Press
Published: 2016-01-05
Total Pages: 241
ISBN-13: 1107087805
DOWNLOAD EBOOKThe theory of revealed preference has a long, distinguished tradition in economics but lacked a systematic presentation of the theory until now. This book deals with basic questions in economic theory and studies situations in which empirical observations are consistent or inconsistent with some of the best known economic theories.