The Price of Time: The Real Story of Interest
- Chancellor, Edward
- Aug 16, 2022
The Price of Time by Edward Chancellor is a comprehensive history of interest, explaining its role in determining capital allocation and pricing. Chancellor explores how interest has evolved over five millennia, from being viewed as exploitative in the ancient world to becoming a necessary reward for capital lenders in capitalism. He argues that interest is the "price of time" and that its current low rates have produced several ill effects, such as asset price bubbles and discouraging savings. This book provides a profound understanding of interest and its importance in the world of finance.