Interest And Prices
Book description
This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it.
This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and…
Why read it?
1 author picked Interest And Prices as one of their favorite books. Why do they recommend it?
Wicksell had social justice at heart.
His motivation to investigate money concerned the welfare impact of inflation/deflation on purchasing power.
His model has capital and resources flowing whither returns are highest and bankers chasing the highest interest rate on loans, entrepreneurs, the best profit rate on investment, and merchants, the best price for products.
As pure credit, money can unceasingly feed demand for loans, generating the cumulative process whereby loan rate increases add to costs of production and prices. Wicksell’s conclusion: if loan rates lag behind the rate of profit, prices rise.
For stability’s sake, when prices are rising/falling, there…
From Omar's list on theoretical reads about money, credit, and debt.
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