The Price Of Time by Edward Chancellor
The Real Story of Interest
A sweeping history and analysis of interest rates and their outsized influence on economies, markets and societies, arguing that the prolonged era of ultra-low rates and expansive central-bank policies has distorted incentives, inflated asset prices, encouraged excessive debt and widened inequality; it traces interest’s moral and economic role across time, examines the trade-offs faced by modern policymakers who must choose between supporting growth and preserving financial stability, and warns that failure to reckon with the true cost of cheap money risks future crises, asset collapse or painful adjustments for savers, pensioners and taxpayers.
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- Published
- 2022
- Nationality
- British
- Length
- Medium
- Pages
- 336
- Original Language
- English
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