Interest and Prices (Large Print Edition): A Study of the Causes Regulating the Value of Money
Book Details
Author(s)
Knut Wicksell
ISBN / ASIN
1495385825
ISBN-13
9781495385827
Availability
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Sales Rank
#2,215,883
Category
Business & Economics
Marketplace
United States 🇺🇸
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Description
LARGE PRINT EDITION! More at LargePrintLiberty.com.
It was this work by Swedish economist Wicksell that drew the attention of Ludwig von Mises to the effects of interest rate manipulation on the capital structure. This was the first to present the idea of the natural rate of interest, which Wicksell argued can be different from the prevailing rate on the market. The natural rate is equal to the return on capital in an imaginary economy without money. Mises took that idea and made it a central component of his business cycle theory. Wicksell was also an important critic of the Quantity Theory of money.
It was this work by Swedish economist Wicksell that drew the attention of Ludwig von Mises to the effects of interest rate manipulation on the capital structure. This was the first to present the idea of the natural rate of interest, which Wicksell argued can be different from the prevailing rate on the market. The natural rate is equal to the return on capital in an imaginary economy without money. Mises took that idea and made it a central component of his business cycle theory. Wicksell was also an important critic of the Quantity Theory of money.
