The Price of Time: The Real Story of Interest
Amazon.com Price: $25.20 (as of 29/03/2023 07:21 PST- Details) Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.
Description
A comprehensive and profoundly relevant history of interest from one of the world’s leading financial writers, The Price of Time explains our current global financial position and how we got here
In the beginning was the loan, and the loan carried interest. For at least five millennia people have been borrowing and lending at interest. The practice wasn’t always popular—in the ancient world, usury was generally viewed as exploitative, a potential path to debt bondage and slavery. Yet as capitalism became established from the late Middle Ages onwards, denunciations of interest were tempered because interest was a necessary reward for lenders to part with their capital. And interest performs many other vital functions: it encourages people to save; enables them to place a value on precious assets, such as houses and all manner of financial securities; and allows us to price risk.
All economic and financial activities take place across time. Interest is often described as the “price of money,” but it is better called the “price of time:” time is scarce, time has value, interest is the time value of money.
Over the first two decades of the twenty-first century, interest rates have sunk lower than ever before. Easy money after the global financial crisis in 2007/2008 has produced several ill effects, including the appearance of multiple asset price bubbles, a reduction in productivity growth, discouraging savings and exacerbating inequality, and forcing yield starved investors to take on excessive risk. The financial world now finds itself caught between a rock and a hard place, and Edward Chancellor is here to tell us why. In this enriching volume, Chancellor explores the history of interest and its essential function in determining how capital is allocated and priced.
ALSO ON BEST FOREX ROBOTS | FX EXPERT ADVISORS | FOREX EA'S - BESTFOREXROBOTS.COM
Additional information
Author |
---|
Related products
-
Candlestick and Pivot Point Trading Triggers, + Website: Setups for Stock, Forex, and Futures Markets (Wiley Trading)
Amazon.com Price: $35.99 (as of 29/03/2023 07:21 PST- Details)Add to cartProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.
-
Forex Fundamental Analysis – The Essence of Trading: Forex Trading Method of Analysis for Experienced Traders and…
Amazon.com Price: $24.99 (as of 29/03/2023 07:21 PST- Details)Add to cartProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.
-
FOREX TRADING: The Basics Explained in Simple Terms (Forex, Forex Trading System, Forex Trading Strategy, Oil, Precious…
Amazon.com Price: $24.99 (as of 29/03/2023 07:21 PST- Details)Add to cartProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.
-
The Mental Game of Trading: A System for Solving Problems with Greed, Fear, Anger, Confidence, and Discipline
Amazon.com Price: $28.00 (as of 29/03/2023 07:21 PST- Details)Add to cartProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.
Reviews
There are no reviews yet.