A Defense of the Rothbardian Structure of Production
نویسندگان
چکیده
This paper offers a defense of the Austrian theory that states the proportion of consumption relative to investment determines the interest rate in society. It analyzes the implications of changes in the demand for present goods on the time market and makes the case that this demand is strictly derivative of the total amount of money spent on consumption. In addition, it investigates how concomitant changes in time preference and the money relation affect the structure of production. Finally, this paper concludes with remarks on the relationship between the interest rate and the length of the structure of production.
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