Interest prices time-preference. It's going to emerge automatically in any economy of even modest sophistication.
-
-
This Tweet is unavailable.
-
The US financial system was based on interest-bearing loans during this period, so it's hard to make any sense out of this example.
- 2 more replies
-
-
-
This Tweet is unavailable.
-
It appears to me that
@Outsideness is coming from the pure time preference theory of interest, Misesian tradition, so I assume that the claim would be that to even get to new world and acquire the new resources is predicated on low time preference (civilization)
End of conversation
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.