Ep. 273 The Austrian Theory of Interest, Current and Future
Bob Murphy Show
00:00
The Hard Tack and the Figs
Fisher showed how whatever your subjective preferences were, it would have to be the case in equilibrium that you adjusted your consumption patterns over time such that with the sheep, the real rate of interest was 10%. With the figs, it was, what did I say, negative 5% think with the numbers I gave. And then with the hard tack, it was 0%. But there it was clear what he was doing and his reasoning.
Transcript
Play full episode
