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The Price of Time: The Real Story of Interest Chancellor Edward

Winner of the 2023 Hayek Book PrizeLonglisted for the 2022 Financial Times BusinessBook of the Year AwardA comprehensive and profoundly relevant history of interest from one of the world's leading…

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Specifikacia The Price of Time: The Real Story of Interest Chancellor Edward


Winner of the 2023 Hayek Book PrizeLonglisted for the 2022 Financial Times BusinessBook of the Year AwardA 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 hereIn 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

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