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Time, Capital, and Civilization | The Song Series | Episode 1 (WiM080)
The "What is Money?" Show
The Importance of the Interest Rate on Time Preference
The interest rate is the ratio at which actors value the future to the present. If you have a higher interest in obtaining things now, you have a high time preference. In athea money system, the interest rate doesn't tell you very much. It's purposely manipulated by lenders who use it as one of the variables that they want on employment and other issues.
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