Debating the Nature of Capitalism and Private Property with Josh Sidman (WiM573)
The "What is Money?" Show
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Interest in a Barter Economy
This chapter discusses the concept of interest through a variation of the Robinson Crusoe parable set in a barter economy. It explores the implications of spoilage and depreciation on goods, emphasizing how these factors influence lending and repayment, ultimately revealing an implied interest rate despite the absence of traditional interest concepts.
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