Saturday, March 16, 2013

A Good *thought* Relevant to the Natural Rate of Interest Debate

"The market rates of interest on loans arc not pure interest rates. Among the components contributing to their determination there are also elements which are not interest." -- Mises, Human Action, p. 536

Note: I did not say "some good sentences" -- the sentences are not particularly eloquent. It is the thought behind them that is important.

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