The Price of Time The Real Story of Interest

Name: The Price of Time
Author: Edward Chancellor

Auteur: Edward Chancellor

Taal: Engels

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Auteur: Edward Chancellor

Engels
Hardcover
9780802160065
16 augustus 2022
432 pagina's

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A comprehensive and profoundly relevant history of interest from one of the worlds 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 wasnt always popularin 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.

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Inhoud

Taal: en
Bindwijze: Hardcover
Oorspronkelijke releasedatum: 16 augustus 2022
Aantal pagina's: 432

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Hoofdauteur: Edward Chancellor
Hoofduitgeverij: Black Cat

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Studieboek: Ja
Verpakking breedte: 160 mm
Verpakking hoogte: 40 mm
Verpakking lengte: 236 mm
Verpakkingsgewicht: 1257 g

EAN

EAN: 9780802160065

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Categorieën: Economie & Financiën

Economie

Financien & Boekhouding

Economische geschiedenis

Macro-economie

Financien

Boeken
Taal: Engels
Boek, ebook of luisterboek?: Boek
Beschikbaarheid: Leverbaar
Studieboek of algemeen: Studieboeken

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