On Exchange, Monetary Credit Transactions, Barter, Time Preference, Interest Rates, and Productivity

Ethics & Politics, Vol. 8, pp. 116-126, 2006

13 Pages Posted: 8 Jul 2011

See all articles by Walter E. Block

Walter E. Block

Loyola University New Orleans - Joseph A. Butt, S.J. College of Business

William Barnett

Loyola University New Orleans

Date Written: July 6, 2011

Abstract

We attempt in this paper to tie together several basic insights of praxeology, and several that are not at all that basic. These include the following: that gains from exchange are subjective; that this applies to profits and interest; that credit transactions can occur under barter; that interest arises from time preference even under a pure time preference theory of interest; and that productivity can, under disequilibrium conditions, affect the various rates of interest.

Suggested Citation

Block, Walter E. and Barnett, William, On Exchange, Monetary Credit Transactions, Barter, Time Preference, Interest Rates, and Productivity (July 6, 2011). Ethics & Politics, Vol. 8, pp. 116-126, 2006. Available at SSRN: https://ssrn.com/abstract=1880680

Walter E. Block (Contact Author)

Loyola University New Orleans - Joseph A. Butt, S.J. College of Business ( email )

6363 St. Charles Avenue
Box 15, Miller 321
New Orleans, LA 70118
United States
(504) 864-7944 (Phone)
(504) 864-7970 (Fax)

William Barnett

Loyola University New Orleans ( email )

526 Pine Street
New Orleans, LA 70118
United States

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