{"product_id":"2940016318158","title":"The Pure Time-Preference Theory of Interest","description":"The present crop of Keynesians play with interest rates believing they can create prosperity without a sound theoretical basis for how the market determines rates. It is the Austrian insight that present goods have a higher value than future goods, while the followers of Lord Keynes foolishly try to abolish human action.\u003cbr\u003e\u003cbr\u003eGiants of the Austrian world have been assembled for the task, along with a fresh new introduction by Jeffrey Herbener. Rothbard, Mises, Garrison, Kirzner and Fetter systematically provide the underpinnings of a theory that, as Israel Kirzner writes, “for almost a century a particular theory of interest has been again and again discussed, refuted, defended, ignored, forgotten, and rediscovered; somehow it has managed to survive.”\u003cbr\u003e\u003cbr\u003eFind out why!\u003cbr\u003e\u003cbr\u003eFrom Douglas French’s foreward:\u003cbr\u003e\u003cbr\u003e    \"The following essays parse through the uniquely Austrian insight of the pure time-preference theory of interest, but more importantly go to the core of why modern central bank monetary engineering leaves the economy further from recovery while at the same time providing a Petri dish for speculation and malinvestment.\"","brand":"Ludwig von Mises Institute","offers":[{"title":"Default Title","offer_id":47069985636592,"sku":"2940016318158","price":3.25,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/2940016318158_p0.jpg?v=1763633411","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/2940016318158","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}