Edward Chancellor: "The Price of Time"
The Great Simplification with Nate Hagens
00:00
The Role of Interest Rates in Economic Growth
If one buys the sort of Howard Odom view that all economic activity results from transfers of energy and extraction, then interest rates could be linked to growth. I'm half warm to that argument in my book; it's an interesting thought. We're now moving into a time when there is a scarcity to natural resources such as oil which becomes more and more expensive over time to extract. You know, you can no longer just stick a, stick a rig in the, you know, in Texas or in, or in Saudi and pull it out at almost no, no marginal cost.
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