Description
Explore the evolution of how we understand value and interest. This concise study surveys competing theories and traces how ideas about capital, time, and value shaped economic thought.
This edition focuses on the Use theory and its rivals, showing how debates about productive services, exchange value, and the role of time moved the field forward. It presents clear distinctions between productivity and distribution, and explains why many early explanations fell short of the mark. The author argues that the root of interest lies in value and time, not just in production.
• How the concept of capital changes from old to new theories
• Why time affects how people value goods and future income
• Different schools of thought, from earlier use theories to productivity and exploitation ideas
• A rigorous, historical look at how economists approached the interest problem
Ideal for readers of economic history, theory, and those curious about how today's ideas about value and interest were formed.
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